Which of the following does not correctly describe the effect of a credit card discount? Net sales decrease and gross profit decreases. Net sales decrease and net income decreases. Operating expenses remain the same and net income decreases. Neither operating expenses, nor net income is affected. Solution Operating expenses remain the same and net income decreases .

1. Which of the following does not correctly describe the effect of a credit card discount?
Net sales decrease and gross profit decreases.
Net sales decrease and net income decreases.
Operating expenses remain the same and net income decreases.
Neither operating expenses, nor net income is affected.
Net sales decrease and gross profit decreases.
Net sales decrease and net income decreases.
Operating expenses remain the same and net income decreases.
Neither operating expenses, nor net income is affected.
Solution
Operating expenses remain the same and net income decreases