Question

Select the correct answer. Ashley is a finance executive. She has gathered all the data from different departments regarding the finances expended as well as earned in the process of selling a product. She needs to prepare an income statement. How should she start preparing the income statement? A. show the COGS first B. show the operating profit first C. show the sales revenue first D. show the administrative expenses first

Answer 1

Answer:

Ashley is a finance executive. She has gathered all the data from different departments regarding the finances expended as well as earned in the process of selling a product. She needs to prepare an income statement. How should she start preparing the income statement?

show the sales revenue first

Explanation:

The sales revenue shown reflects the income accrued during the cause of sales and this comes first during income statement preparation