Question 7

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Which alternative represents the correct accounting treatment of carriage on sales amount in the statement of profit or loss and other comprehensive income of KPMJ Ltd for the year ended 28 February 2022?

a.

Added to the settlement discount granted

b.

Added to the cost of sales amount

c.

Deducted from revenue amount

d.

Disclosed as an expense under distribution, administrative and other expenses

Added

e.

Deducted from cost of sales amount