The Accounting Income Statement "Equation" Is Expressed as ____________

question 85

Multiple Choice

The accounting income statement "equation" is expressed as ____________.

• A)assets + liabilities = equity
• B)income - expenses = profit or loss
• C)revenues - taxes = assets
• D)expenses + debt = equity

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Definitions:

Manager

An individual responsible for directing and overseeing the work of a group of people in an organization.

Company

An organization or business entity engaged in commercial, industrial, or professional activities.

Types of Audiences

Various groups of people categorized by specific characteristics or interests when presenting information or entertainment.

Primary

First in order of importance or sequence; the main or most significant element.