Which Statement Is Correct About Expenses in the Income Statement

question 100

Multiple Choice

Which statement is correct about expenses in the income statement?

• A)Some function of expense categories are depreciation or employee costs.
• B)Expenses can be classified in any manner under IFRS.
• C)The function of expense format classifies expenses based on their use.
• D)Expenses should be classified based on their materiality.

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Definitions:

Epidermis

The outermost layer of the skin, serving as the primary barrier against the environment.

Dermis

The thick layer of living tissue below the epidermis that forms the true skin, containing sweat glands, hair follicles, and other structures.

Dermatologist

A medical doctor specializing in the diagnosis and treatment of skin disorders.

Dermatology

The branch of medicine dealing with the skin, nails, hair, and their diseases.