Revenue in the Statement of Profit or Loss Is Calculated

question 2

Multiple Choice

Revenue in the statement of profit or loss is calculated as:

• A) Sales - sales returns - discounts allowed not taken up
• B) Sales - sales returns + discounts allowed not taken up
• C) Sales - sales returns
• D) Sales + sales returns

---

Definitions:

Course of Action

A plan or strategy intended to accomplish a specific goal or resolve a problem.

Opportunity Cost

The act of abandoning potential benefits available in other choices upon selecting a specific alternative.

Room and Board

Refers to the combined cost of housing and food for students at a university or boarding school.

College Expenses

Costs associated with attending college, which can include tuition, room and board, books, supplies, and other living expenses.