Are expenditures reported on BP’s income statement reported by function or by nature of the expense? Be specific. Do you think that this format is more or less useful for users of the BP’s income statement lists expenses by nature. This can be determined by examining the expenses. Instead of listing cost of goods sold, the expenses are listed as purchases, production and manufacturing expenses, and depreciation expenses.

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Its more useful to to the users of financial statement because Income and expenditure statements is ... View the full answer