The Net Income Amount from the Income Statement Is Transferred

question 92

Multiple Choice

The Net Income amount from the Income Statement is transferred to which of the following statements?

• A) the profit and loss statement
• B) the statement of owner's equity
• C) the balance sheet
• D) the trial balance

---

Definitions:

Exports

Goods or services produced in one country and sold to buyers in another, contributing to national income.

GDP

Gross Domestic Product (GDP) is the total market value of all final goods and services produced within a country in a specified period.

Per Capita Real GDP

A measure of the average economic output per person, adjusted for inflation, in a given country.

GDP Deflator

An indicator for the pricing levels of all new, domestically produced, consumable goods and services within an economy.