Question 12

Not yet answered

Marked out of 1.00

Flag question

Question text

11. In a classified profit or loss statement, which of the following would be regarded as a financial expense?

I. Bad debts

II Discount received

III Income tax

IV Depreciation

V Discount allowed

Select one:

a.

I & II

b.

I, II & III

c.

I, II & IV

d.

I & V

e.

All of the above

2

Select one:

a.

A contra asset account

b.

A liability account

c.

Also an asset account

d.

An owner's equity account

e.

An income account