- CFA Exams
- CFA Level I Exam
- Topic 4. Financial Statement Analysis
- Learning Module 2. Analyzing Income Statements
- Subject 6. Income Statement Ratios and Common-Size Analysis
CFA Practice Question
In multi-step income statement, sales discount is presented in the ______.
A. sales or revenue section
B. cost of goods sold section
C. general/selling expense section
A. sales or revenue section
B. cost of goods sold section
C. general/selling expense section
Correct Answer: A
User Contributed Comments 3
| User | Comment |
|---|---|
| viannie | It's Net revenue or sales therefore we take sales discount into consideration on sales / revenue section |
| ndachie | I agree |
| FinanAhmad | thanks viannie for explanation |