When Preparing an Income Statement for a Retailer How Will

question 30

Multiple Choice

When preparing an income statement for a retailer how will each of the following items be classified?
I. Discount allowed; and
II. Depreciation of sales-person's motor vehicles

• A) Finance expenses; selling and distribution expenses
• B) Administrative expenses; selling and distribution expenses
• C) Finance expenses; administrative expenses
• D) Selling and distribution expenses; selling and distribution expense