The Net Income Appears as a Separate Line Item on What

question 63

Multiple Choice

The Net Income appears as a separate line item on what two statements?

• A)the statement of owner's equity and the income statement
• B)the trial balance and the income statement
• C)the income statement and the balance sheet
• D)the statement of owner's equity and the balance sheet

---

Definitions:

Cold War Consensus

The broad agreement within the United States during the Cold War on foreign policy objectives, especially regarding containment of communism and the threat of nuclear war.

War on Terror

A global campaign launched by the United States in response to the September 11, 2001, terrorist attacks, aimed at combating terrorism, particularly against organizations like Al-Qaeda and the Islamic State.

Newt Gingrich

An American politician who served as the 50th Speaker of the United States House of Representatives from 1995 to 1999 and was a key figure in the Republican Party's Contract with America.

Speaker

A term with multiple meanings; in a legislative context, it typically refers to the presiding officer in a legislative body, such as the Speaker of the House in the U.S. Congress.