The sales revenue section of an income statement for a retailer would NOT include
A) Sales returns and allowances.
B) Sales.
C) Net sales.
D) Cost of goods sold.

Question

Quizplus · Accepted Answer

The sales revenue section of an income statement for a retailer includes sales, sales returns and allowances, and net sales, but does not include the cost of goods sold, which is reported in a separate section of the income statement.

The Sales Revenue Section of an Income Statement for a Retailer