Which of the Following Statements Regarding the Income Statement Is

question 8

Multiple Choice

Which of the following statements regarding the income statement is NOT CORRECT?

• A)The income statement shows the flow of earnings and expenses generated by the firm between two dates.
• B)The income statement shows the earnings and expenses at a given point in time.
• C)The last or"bottom" line of the income statement shows the firm's net income.
• D)The first line of an income statement lists the revenues from the sales of products or services.