All of the following statements are true EXCEPT:
A)net revenues come mainly from the firm's business operations in the form of sales of products and services.
B)net revenue can also come from other non core business sources,such as from interest earned on marketable securities.
C)net revenues are after deducting returns,allowances for damages,cash discounts,etc.
D)net revenues are after deducting selling and administrative expenses.

Question

Quizplus · Accepted Answer

The statement "net revenues are after deducting selling and administrative expenses" is false. Net revenue is calculated by deducting returns, allowances for damages, cash discounts, and any other deductions from gross revenue. It does not include deducting selling and administrative expenses.

All of the Following Statements Are True EXCEPT