The Major Elements of the Income Statement Are

question 138

Multiple Choice

The major elements of the income statement are

• A) revenue, cost of goods sold, selling expenses, and general expense.
• B) operating section, nonoperating section, discontinued operations, extraordinary items, and cumulative effect.
• C) revenues, expenses, gains, and losses.
• D) revenues, irregular items, and general expenses.

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Definitions:

Male Elks

Adult male specimens of the species Cervus canadensis, known for their large antlers, which they shed and regrow each year.

Waggle Dance

A remarkable behavior displayed by honeybees to communicate the location of food sources to other members of their hive.

Chemical Communication

The process by which cells and organisms transfer information using chemical signals, essential for coordinating functions and responses.

Visual Communication

The conveyance of ideas and information in forms that can be seen, utilizing symbols, signs, art, and typography.