Which One Is Not Used to Calculate Net Sales

question 29

Multiple Choice

Which one is not used to calculate net sales?

• A)Purchases
• B)Sales discount
• C)Sales returns and allowance
• D)Gross sales
• E)None of these

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Definitions:

Straight-Line Depreciation

A technique for spreading the expense of a physical asset evenly across its lifespan.

Depreciation Expense

An accounting method used to allocate the cost of a tangible asset over its useful life.

Journal Entry

A journal entry in accounting is a record of a financial transaction, entering it into the accounting records of a business.

Book Value

The net value of an asset or liability according to its balance sheet account balance, calculated as original cost minus depreciation, amortization, or impairment costs.