Under the accounting standard governing the presentation of the income statement the item is $\bold{not}$ required to be presented on the face of the statement is
A)Revenue
B)Depreciation
C)Finance costs
D)Tax expense

Question

Quizplus · Accepted Answer

According to the accounting standard governing the presentation of the income statement, all items that contribute to the determination of net profit or loss for the period should be presented on the face of the statement except for some specific items such as the effects of changes in accounting policies or corrections of errors. Depreciation is a non-cash item and is usually included in the calculation of operating expenses, but it is not required to be presented separately on the face of the income statement. Revenue, finance costs, and tax expense are all items that contribute to the determination of net profit or loss and are required to be presented on the face of the income statement.

Under the Accounting Standard Governing the Presentation of the Income not\bold{not}not

Under the Accounting Standard Governing the Presentation of the Income $\bold{not}$