Activity 1: True or False
Direction: Write the word “True” if the statement is correct and “False” if it is incorrect. Write the answer on the space provided before each number. ___________ 1. Revenue is the amount earned by a business in its main
operating activities.
___________ 2. Income statement reflects the performance of an entity for a specific time period.
___________ 3. Freight-out is treated as an administrative expense.
___________ 4. Net sales plus operating expenses is best defined as net
sales.
Activities
15
___________ 5. Salary of personnel in the production department is considered to be operating expenses.
Share
Answer:
1.true
2.true
3.false
4.false
5.false
Answer:
1.true
2.true
3.false
4.true
5.flase