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11 Dec 2019
Which of the following is true regarding the income statement?
a. The income statement is sometimes called the statement of operations.
b. The income statement reports revenues, expenses, and liabilities.
c. The income statement only reports revenue fro which cash was received at the point of sale.
d. The income statement reports the financial position of a business at a particular point in time.
Which of the following is true regarding the income statement?
a. The income statement is sometimes called the statement of operations.
b. The income statement reports revenues, expenses, and liabilities.
c. The income statement only reports revenue fro which cash was received at the point of sale.
d. The income statement reports the financial position of a business at a particular point in time.
23 Feb 2023
Sixta KovacekLv2
14 Mar 2020
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Related questions
Match the transaction to the financial statement:
1)Purchased land for $50,000 cash. Where does the land appear?
2)Received $50,000 cash for services. Where does the revenue appear?
3)Acquired $20,000 cash from the issue of common stock. Where does the common stock appear?
4)What statement reports all cash transactions from all sources?
_______________________________________________________________________________
| A. | Retained Earnings |
| B. | Common Stock |
| C. | Balance sheet statement |
| D. | Income statement |
| E. | Statement of changes in stockholder equity |
| F. | The statement of cash flow |
