How Many of the Following Items Are Found on the Income

question 73

Multiple Choice

How many of the following items are found on the income statement, rather than the balance sheet? •Sales
•Notes payable (due in six months
•Bonds payable (mature in 10 years
•Common stock
•Depreciation expense
•Inventories
•Capital in excess of par value
•Net income (earnings after taxes)
•Income tax payable

• A) Two of these items are found on the income statement.
• B) Three of these items are found on the income statement.
• C) Four of these items are found on the income statement.
• D) Five of these items are found on the income statement.

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Definitions:

Edward Bellamy

A 19th-century American author known for his utopian novel, "Looking Backward", which envisions a future society based on cooperative living and economic equality.

Haymarket Affair

A significant event in labor history occurring in Chicago in 1886, involving a bombing at a labor protest and its aftermath, which affected the labor movement and public opinion on labor rights.

Knights of Labor

A significant labor organization in the late 19th century United States, which aimed to promote worker's rights and social reforms.

Decline

A gradual decrease in quality, quantity, or importance of something over time.