Customer relationship management software would be most likely to affect which income statement account?Multiple ChoiceCost of Goods SoldRevenuesSelling, General, and Administrative Expenses (SG&A)Interest Expense

Answered: Customer relationship management…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Customer relationship management software would be most likely to affect which income statement account?
Multiple Choice
Cost of Goods Sold
Revenues
Selling, General, and Administrative Expenses (SG&A)
Interest Expense

Expert Solution

Step 1

The income statement is prepared at the end of the accounting period to show the result of operations like profit or loss. The income statement reports the profit or loss made. When the revenue is more than expenses it results in profit.

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