When the Net Price Method Is Used to Record Credit

question 59

Multiple Choice

When the net price method is used to record credit sales, the sales discounts not taken account is reported as a(n)

• A)addition to sales returns and allowances on the income statement
• B)deduction from gross sales on the income statement
• C)deduction from selling expenses on the income statement
• D)addition to other revenue on the income statement

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Definitions:

Generalized Anxiety Disorder

A mental health disorder characterized by persistent and excessive worry about various aspects of life, not limited to one specific issue.

Anxiety

A feeling of worry, nervousness, or unease about something with an uncertain outcome, often reflecting concerns about future events.

Tense

A grammatical category that expresses time reference, typically indicating when an event occurs, such as past, present, or future.

Psychological Disorders

A range of mental health conditions characterized by abnormal thoughts, feelings, behaviors, and relationships with others.