How many of these expenses that would normally appear in an internally prepared income statement are required to be separately disclosed in an external income statement prepared to conform to the requirements of the accounting standards?
$\bullet$Advertising
$\bullet$Insurance
$\bullet$Telephone
A) 0
B) 1
C) 2
D) 3

Question

Quizplus · Accepted Answer

Accounting standards typically do not require the separate disclosure of advertising, insurance, or telephone expenses in an external income statement. These are generally included in operating expenses or similar categories without individual breakdowns.

How Many of These Expenses That Would Normally Appear in an Internally