Which is the CORRECT order for items to appear on the income statement?

Question

Quizplus · Accepted Answer

The correct order for items to appear on the income statement is sales revenue, cost of goods sold, gross profit, and operating expenses. The cost of goods sold is subtracted from the sales revenue to get the gross profit, which is then used to cover the operating expenses. Finally, the net income is calculated by subtracting the total expenses from the gross profit. Thus, choice D is the correct order.

Which Is the CORRECT Order for Items to Appear on the Income