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.

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Definitions:

Main Ideas

The central or most important concepts, messages, or points that are being communicated in a piece of writing, speech, or artwork.

Audience

The group of people who watch, read, listen to, or are targeted by a particular form of media or event.

Prezi

A software application for creating presentations that allows users to explore and share ideas on a virtual canvas.

PowerPoint

A software program developed by Microsoft that allows users to create digital presentations composed of slides.