An Income Statement

question 12

Multiple Choice

An income statement

• A) summarizes the changes in retained earnings for a specific period of time.
• B) reports the changes in assets, liabilities, and stockholders' equity over a period of time.
• C) reports the assets, liabilities, and stockholders' equity at a specific date.
• D) presents the revenues and expenses for a specific period of time.

---

Definitions:

Parietal

Bones that form most of the top and sides of the skull.

Temporal

Bones that form the lower sides of the skull.

Ethmoid

Bones located between the sphenoid and nasal bone that form part of the floor of the cranium.

Occipital

Relating to the back of the head. The occipital bone forms the back of the skull.