The Amount of Net Income Shown on the Income Statement

question 103

Multiple Choice

The amount of net income shown on the income statement also appears on the:

• A) statement of assets
• B) statement of retained earnings
• C) balance sheet
• D) statement of financial position

---

Definitions:

Productivity

The measurement of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.

Smelters

Facilities where metal is extracted from its ore through a process involving heating and melting.

Bureaucracy

A formal organization in which each person has specific duties and responsibilities and is assigned to only one supervisor.

Favoritism

The practice of giving unfair preferential treatment to one person or group at the expense of others.