Net Income Appears on Which of the Following Financial Reports

question 38

Multiple Choice

Net income appears on which of the following financial reports?

• A) Balance sheet
• B) Income statement and statement of owner's equity
• C) Trial balance
• D) Balance sheet and income statement

---

Definitions:

Slavery

A regime where people are the property of others, lacking in personal autonomy, and compelled to work or provide services for free.

Benjamin Franklin

A leading figure of early American history, noted for his contributions as a statesman, author, printer, political theorist, and scientist, as well as one of the Founding Fathers of the United States.

Gabriel's Rebellion

Gabriel's Rebellion was an unsuccessful slave revolt planned by Gabriel Prosser in the summer of 1800 in Richmond, Virginia, reflecting the growing resistance against slavery in the early 19th century.

Liberty

A foundational concept referring to the state of being free within society from oppressive restrictions imposed by authority on one's way of life, behavior, or political views.