Question 32 (2 points)

On a multiple step income statement, net revenue is calculated as sales revenue less:

Question 32 options:

	Sales discounts, sales returns, and sales allowances
	Allowance for uncollectible accounts
	Cost of goods sold
	Total expenses

Question 33 (2 points)

Elm Lawncare provided $500 in landscaping services to a customer on account. If the customer pays within 10 days, the customer will receive a 3% reduction in the amount due. This incentive for quick payment is a:

Question 33 options:

	Sales discount
	Sales return
	Trade discount
	Sales allowance