Sales Returns and Allowances and Sales Discounts Are Expense Accounts

question 111

True/False

Sales returns and allowances and sales discounts are expense accounts.

---

Definitions:

Federal Courts

Courts established by the national government that have jurisdiction over matters specifically assigned to them by the U.S. Constitution or federal statutes.

Question of Fact

An issue to be decided by the jury or judge regarding the reality of events or existence of facts in a trial.

Question of Law

A point concerning the interpretation or application of laws, as opposed to questions of fact in legal cases.

Standard of Proof

The level of certainty and the degree of evidence necessary for a judge or jury to make a decision in a legal case.