Under IFRS, which of the following subtotals would be shown on an income statement if the...
Under IFRS, which of the following subtotals would be shown on an income statement if the company used the nature-of-expense approach? a. Cost of services. b. Selling expenses. c. Administrative expenses. d. None of the above because subtotals are not shown
Homework Answers
d.None of the above because subtotals are not shown.
Nature of expense income statement is similar to single step income statement.
So there will be no sub classification of expenses.
So there will be no sub total for cost of services, selling expenses, administrative expenses.
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Under IFRS, which of the following subtotals would be shown on
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