All of the Following Are Shown on an Income Statement

question 25

Multiple Choice

All of the following are shown on an income statement except:

• A) cost of goods sold.
• B) accounts receivable.
• C) taxes.
• D) depreciation.
• E) net income.

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Definitions:

Carrying Value

The book value of an asset or liability on a company's balance sheet, calculated as its original cost minus accumulated depreciation or amortization.

Bonds

A fixed income instrument that represents a loan made by an investor to a borrower, typically corporate or governmental.

Interest

The charge for the privilege of borrowing money, typically expressed as an annual percentage of the principal.

Mortgage Note Payable

A mortgage note payable is a legal agreement where the borrower promises to repay a debt used to purchase real estate, secured by the property itself.