Sales returns and allowances are reported on the <u>Income Statement</u>.
<h3>What is the income statement?</h3>
The income statement is a financial statement wherein the sales revenue and cost of goods sold and operating expenses are summarized in order to obtain the net income.
When reporting the sales returns and allowances on the income statement, they are subtracted from the gross sales to arrive at the net sales.
Thus, sales returns and allowances are reported on the <u>Income Statement</u>.
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Answer:
5 hours
Explanation:
Data provided in the question
Per month tennis charges = $50
Court time per hour = $10
Current month bill = $100
By considering the above information we can find out the variable expense that is shown below:
= Current month bill - per month tennis charges
= $100 - $50
= $50
So, the number of court time hours usage is
= $50 ÷ $10
= 5 hours
Brook's Law is the statement that adding more people to a late project makes the project later.
Answer:
stimulation ; stabilization
Explanation:
Automatic stabilizers act to stimulate the economy during recessions and stabilize the economy when it becomes overheated
