The amount of net income is transferred from ________ to ________.
a. the income statement; the statement of expenditures
b. the balance sheet; the statement of cash flows
c. the balance sheet; the income statement
d. the income statement; the statement of retained earnings
The amount of net income is transferred from ________ to ________.
a. the income statement; the statement of expenditures
b. the balance sheet; the statement of cash flows
c. the balance sheet; the income statement
d. the income statement; the statement of retained earnings
Related questions
The five products of financial accounting and the result of theeighth step of the accounting process are:
| a.) | Income Statement, Business Progress Statement, Balance Sheet,Statement of Cash Flows, Asset and Liability Statement | |
| b.) | Income Statement, Notes to the Income Statement, Statement ofRetained Earnings, Notes to the Retained Earnings Statement,Balance Sheet. | |
| c.) | Income Statement, Statement of Retained Earnings, Balance Sheet,Statement of Cash Flows, Statement of Stockholders Equity | |
| d.) | Income Statement, Statement of Retained Earnings, Balance Sheet,Statement of Cash Flows, Notes to the Financials |
