Which Item Would Be Listed First on the Income Statement

question 36

Multiple Choice

Which item would be listed first on the income statement?

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

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Definitions:

Hedge

An investment position intended to offset potential losses or gains that may be incurred by a companion investment, commonly used for risk management.

Exchange Variations

Refers to the fluctuations in the value of currencies in the foreign exchange market, impacting the value of foreign currency transactions.

Foreign Currency

Foreign Currency is the currency of another country, which is required for conducting international transactions or investments.

Annual Repayments

are fixed amounts paid back by a borrower to a lender at regular intervals over a year to reduce or settle a loan's principal and interest.