The listing of expenses on the income statement is ordered

Asked by admin @ 28/10/2021 in Business viewed by 288 People

The income statement will present

a. revenues less expenses (order is not important)
b. revenues less expenses (ordered smallest to largest amounts) with miscellaneous expense listed last
c. revenues less expenses (ordered in alphabetical order)
d. revenues less expenses (ordered largest to smallest amount) with miscellaneous expense listed last

Answered by admin @ 28/10/2021

Answer:

a. revenues less expenses (order is not important)

Explanation:

In the income statement, the total revenues and the total expenses are recorded.

If the total revenues are more than the total expenditure then the company earns net income

And, If the total revenues are less than the total expenditure then the company have a net loss

This net income or net loss would reflect in the statement of the retained earning account.

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The listing of expenses on the income statement is ordered

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