Which Type of Account Would NOT Be Reported on the Income

question 13

Multiple Choice

Which type of account would NOT be reported on the income statement?

• A)Revenue
• B)Expenses
• C)Liabilities
• D)None of these answers is correct.

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Definitions:

Cookies

Small pieces of data stored on a user's computer by a web browser, mainly used to track and remember information about the user's activities and preferences.

Exchange

The act of trading goods, services, or currencies between parties, either directly or through a medium of exchange like money.

Opportunity Cost

The cost of forgoing the next best choice when making a decision.

Muffin

A small, baked item often eaten for breakfast or a snack, typically sweet and sometimes filled with fruit, chocolate, or nuts.