An income statement
reports the assets, liabilities, and stockholders' equity at a specific date. |
reports the changes in assets, liabilities, and stockholders' equity over a period of time. |
presents the revenues and expenses for a specific period of time. |
summarizes the changes in retained earnings for a specific period of time. |
SOLUTION:-
An Income Statement was “presents the revenues and the expenses for a specific period of the time “
An Income statement demonstrates the net benefit or shortfall earned by an organization amid the specific monetary year or a period time. It introduces the incomes and costs for a period of time.
An income statement reports the assets, liabilities, and stockholders' equity at a specific date. reports the...
The retained earnings statement O reports the assets, liabilities, and stockholders' equity at a specific date. O reports the changes in assets, liabilities, and stockholders' equity over a period of time. O presents the revenues and expenses for a specific period of time. O summarizes the changes in retained earnings for a specific period of time.
Question 1 View Policies Current Attempt in Progress An income statement reports the assets, liabilities, and stockholders' equity at a specific date. reports the changes in assets, liabilities, and stockholders' equity over a period of time. presents the revenues and expenses for a specific period of time. summarizes the changes in retained earnings for a specific period of time.
Ogress An income statement presents the revenues and expenses for a specific period of time. reports the changes in assets, liabilities, and stockholders' equity over a period of time. reports the assets, liabilities, and stockholders' equity at a specific date. summarizes the changes in retained earnings for a specific period of time. Save for Later Attempts: 0 of 1 used Submit Answer esc 2
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9. Multiple Choice Question 102 Which of the following statements is true? a. Amounts received from issuing stock are revenues. b. Amounts received from issued stock are reported on the income statement. Amounts paid out as dividends are not expenses. Amounts paid out as dividends are reported on the income statement. C. d. Answer: 10. Multiple Choice Question 112 An income statement I reports the...
11. (LO 3) Which financial statement reports assets, liabilities, and stockholders' equity? a. Income statement. oblolos b. Retained earnings statement.lt c. Balance sheet. d. Statement of cash flows.
The statement of cash flows reports: A. Assets, liabilities, and equity. B. Revenues, gains, expenses, and losses. C. Cash inflows and cash outflows for an accounting period. D. Equity, net income, and dividends. E. Changes in equity.
Problem II: Indicate which financial statement is being described by each of the following statements. The financial statement choices are: the income statement, the statement of stockholders' equity, the balance sheer, and the statement of cash flows. Item Financial Statement Description The financial statement which summarized the changes in stockholders' equity over a period of time. The financial statement which presents the financial position of the company at a particular date (point in time). The financial statement which summarizes cash...
The statement of cash flows reports: Multiple Choice Ο Assets, liabilities, and equity. Ο Revenues, gains, expenses, and losses. Ο Cash inflows and cash outflows for an accounting period. cash intows an Ο Equity, net income, and dividends. Ο Changes in equity.
The balance sheet reports assets, liabilities, and stockholders' equity as of the end of the Click the answer you think is right. accounting period. earnings period. income period. double-entry period.
23. The Statement of Cash Flows: a. Reports the amount of an organization's assets, liabilities, and owner's equity at the endof a period. mani Consists of tree seons) oplng aing adhvilies and C) financing activities c. Roports the revenues and expenses for a period of time based on the matching concept d. Report the changes in Owner's equity for a period of time. 22919 24. Which of the following best describes accounting? a. Can be thought of as the Tanguage...