Which Item Would Be Listed First on an Income Statement

question 106

Multiple Choice

Which item would be listed first on an income statement?

• A) revenue
• B) cost of goods sold
• C) net operating income
• D) retained earnings

Grasp the functionality of calendar views (Day, Week, Work Week, Month) and printing options.

Learn how to schedule, modify, and cancel meetings including participant management.

Understand the importance of using natural language for date entries and the role of proper capitalization.

Identify the use and purpose of the appointment area, including the creation of appointments and meetings.

---

Definitions:

Estimated Activity

An approximation of the level of effort, production volume, or usage that forms the basis for budgeting and costing activities.

Activity at Capacity

Refers to the maximum level of work that an organization can achieve with its current resources and constraints.

Predetermined Overhead Rate

An estimated overhead rate used to assign manufacturing overhead costs to products or job orders, based on a planned activity level.

Capacity

The maximum level of output that a company can sustain to produce goods or provide services in a given period.