Under U.S. GAAP, ________ is an example of a period-of-time element and appears on the ________.
A) accounts receivable; balance sheet
B) depreciation expense; statement of shareholders' equity
C) salary payable; balance sheet
D) sales revenue; income statement

Question

Quizplus · Accepted Answer

Sales revenue is a period-of-time element that appears on the income statement, reflecting the revenue earned during a specific period.

Under US GAAP, ________ Is an Example of a Period-Of-Time Element