Which of the Following Would Not Be Reported on the Income

question 60

Multiple Choice

Which of the following would not be reported on the income statement?

• A) Utilities expense in the amount of a bill received for utilities used during the current period but unpaid as of the end of the period.
• B) Rent expense in the amount of rent paid during the period for use of a storage facility in the current period.
• C) Revenue in the amount of services provided to customers who promise to pay in the next period.
• D) Cost of land purchased with cash for future use.

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Definitions:

Hydrographs

Charts that show the flow rate of water over time in a specific stream, river, or other body of water.

Hydrograph

a graph showing the rate of flow (discharge) versus time past a specific point in a stream, river, or other channel.

Snowmelt

The runoff produced by melting snow.

Hundred-year Flood

is a term used to describe a flood event that has a 1% chance of occurring in any given year, used as a standard metric in flood risk assessment.