Which of the Following Can Be Found on the Income

question 143

Multiple Choice

Which of the following can be found on the income statements of both a manufacturing and service organization?

• A) revenues
• B) operating income
• C) administrative expenses
• D) all of these can be found on both.

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Definitions:

Services Performed

Tasks or work completed, particularly in the context of professional or commercial services.

Depreciation Expense

An accounting method used to allocate the cost of a tangible asset over its useful life, representing how much of an asset's value has been used up over a period.

Accumulated Depreciation

The cumulative total of the depreciation expense allocated for a physical asset from the time it was first utilized.

Equipment

Equipment consists of the tools, machinery, and other tangible assets used by a company in its operations.