Question: TB MC Qu . 6 - 2 9 ( Static ) Which of the following statements is . . . Which of the following statements

TB MC Qu.6-29(Static) Which of the following statements is...
Which of the following statements is correct?
Multiple Choice
Sales discounts are reported as cost of sales on an income statement.
Sales returns and allowances are reported as operating expenses on an income statement.
Revenue is recognized at the time of shipment when goods are shipped FOB destination.
A seller records revenue when title and risks of ownership transfer to the buyer.

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