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Am I right? Is the second choice also correct? If not, why? Which of the following statements about sales returns and allowances is (are) true?

Am I right? Is the second choice also correct? If not, why?

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Which of the following statements about sales returns and allowances is (are) true? (Select all that apply.) Check All That Apply Customers who return unsatisfactory merchandise receive a refund or an adjustment to their bill. Sales returns and allowances must be deducted from gross sales revenue in determining net sales. Sales returns are often accumulated in a separate account called Sales Returns and Allowances. Sales returns are typically reported separately on income statements prepared for external users

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