Which of these would not be recorded as increasing income on 13 January?

Cash sale on 13 January

Cash sale on 31 January

Credit sale on 13 January

Sale where $2 000 is paid on 13 January and the balance of $3 000 is paid on 5 February.

Accounting profit measures:

the increase in the value of the entity over the period.

the increase in the bank balance over the period.

the excess of income over expenses for the period.

taxable income minus allowable deductions.

In order to comply with accounting standards, reporting entities are required to classify expenses:

without aggregation.

by nature or function.

by function only.

in no particular way.