Accounting for IGCSE & O level - Final Statements (Section 10 - No. 14)
What is the order of presentation on an income statement?
Revenue, cost of sales, expenses, gross profit, profit for the year
Gross profit, revenue, expenses, cost of sales, profit for the year
Revenue, cost of sales, gross profit, expenses, profit for the year
Expenses, cost of sales, revenue, gross profit, profit for the year
Explication
The standard order: Revenue, Cost of Sales, Gross Profit, Expenses, Profit for the Year