What Reports Operating Results (Revenues Minus Expenses) for a Given

question 40

Multiple Choice

What reports operating results (revenues minus expenses) for a given time period ending at a specified date?

• A) Balance sheet
• B) Statement of owner's equity
• C) Statement of cash flows
• D) Income statement

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Definitions:

Independent Agency

A governmental body that operates independently from the executive branch and is not subject to its direct control.

State

A politically organized body of people usually occupying a definite territory; especially one that is sovereign.

Local Government Employees

Workers employed by municipal, county, or district authorities to provide services at the local level, including education, public safety, and infrastructure maintenance.

Civil Service Act

Legislation intended to secure a competent, honest, and impartial government workforce, often by means of a merit system.