Examples of functional areas of the income statement are
A) sales, gross profit, and net income.
B) cost of sales, administrative activities, and selling activities.
C) wages expenses, depreciation, and rent expense.
D) gross profit, operating income, and net income.

Question

Quizplus · Accepted Answer

Functional areas of the income statement refer to categories that reflect the different functions or activities of a business, such as cost of sales, administrative activities, and selling activities.

Examples of Functional Areas of the Income Statement Are