Expenses on the income statement could be listed in the same order as they appear in the chart of accounts.

Question

Quizplus · Accepted Answer

Typically, expenses on the income statement are listed in the same order as they appear in the chart of accounts, which includes categories such as cost of goods sold, operating expenses, and taxes. This helps to provide a clear and consistent representation of the company's expenses for financial reporting purposes.

Expenses on the Income Statement Could Be Listed in the Same