Which of the Following Is True of Sales Discounts

question 28

Multiple Choice

Which of the following is true of sales discounts?

• A) It is shown as an addition to Other Income on the income statement.
• B) It is shown on the balance sheet under owner's equity.
• C) It is shown on the balance sheet under liability.
• D) It is shown as a deduction from Sales on the income statement.
• E) It is shown on the balance sheet under short-term assets.

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