Sales Discounts Should Appear in the Financial Statements as A(n)

question 34

Multiple Choice

Sales discounts should appear in the financial statements as a(n) :

• A)addition to inventory.
• B)addition to sales.
• C)operating expense.
• D)deduction from sales.

---

Definitions:

Certiorari

A writ or order by which a higher court reviews a decision of a lower court.

Mandamus

A judicial remedy in the form of an order from a court to a government official, body, or lower court, requiring them to perform a mandatory or purely ministerial duty correctly.

Natural Justice

The principle of fairness in legal processes, ensuring all parties have a fair chance to present their case.

Privative Clauses

Provisions in law that limit the ability of a court to review decisions made by administrative bodies, aiming to reduce judicial interference.