Revenue in the statement of profit or loss is calculated as:

Question

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Revenue in the statement of profit or loss is calculated as:
c. Sales - sales returns
This means that the total revenue reported on the income statement is the amount of sales generated by a company minus any sales returns, which are refunds given to customers for returned products. Discounts allowed and not taken up would not typically be subtracted from sales to calculate revenue; instead, they might be accounted for separately as a reduction in the revenue or as an expense, depending on the accounting policies of the company.

Revenue in the Statement of Profit or Loss Is Calculated