Sales Returns and Allowances Should Be Deducted from Sales Revenue

question 119

True/False

Sales returns and allowances should be deducted from sales revenue when computing net sales.

---

Definitions:

Accessory Equipment

Refers to additional or supplementary items or devices added to a primary system or machine to enhance its functionality or performance.

Specialty Products

Products that are regarded as unique or high-value, often requiring special effort to find or purchase.

Supplies

Goods or materials provided or available for use, particularly in the context of business operations, production processes, or personal needs.

Unsought Products

Items that consumers do not actively seek out to purchase, often requiring significant marketing effort to sell.