Which of the following would be a standard line item in a P&L?
A) Net sales
B) The cost of goods
C) Net income
D) All of the above

Question

Quizplus · Accepted Answer

Net sales, the cost of goods, and net income are all common line items found in a company's P&L statement. Net sales represents the revenue generated from sales, the cost of goods represents the expenses incurred in producing and selling products, and net income represents the profit or loss earned by the company after all expenses have been deducted from revenue.

Which of the Following Would Be a Standard Line Item