All but Which of the Following Are Included in a Proforma

question 8

Multiple Choice

All but which of the following are included in a proforma income statement?

• A) Amount of profit.
• B) Sales revenue.
• C) Value of assets invested.
• D) Cost of goods sold.
• E) Expenses.

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Definitions:

Credit Entries

Bookkeeping records that increase liabilities or equity or decrease assets on a company's balance sheet.

Liability Account

A financial accounting account that represents obligations to pay debts or amounts owed to others.

Capital Account

An account showing the net worth of a business entity, including its equity and investments.

Asset Account

An account that records the assets owned by a company, showing their value on the balance sheet.