Which of the Following Items Would Appear on the Income

question 67

Multiple Choice

Which of the following items would appear on the income statement?

• A)Common stock,service revenue,retained earnings,accounts payable,and unearned revenue.
• B)Cash,supplies,prepaid rent,accounts receivable,office equipment,utilities expense,and shaving equipment.
• C)Common stock,cash,supplies,prepaid rent,retained earnings,accounts payable,accounts receivable,office equipment,unearned revenue,and shaving equipment.
• D)Service revenue and utilities expense.
• E)Service revenue,unearned revenue,and utilities expense.

---

Definitions:

Deferral Method

An accounting practice that involves postponing the recognition of certain income or expenses until a later accounting period, typically to match revenue with expenses more effectively.

Donation Revenue

Income received from gifts or donations, often characterized by the absence of an expected return or direct benefit to the donor.

Restricted Contribution

Funds given to an organization with stipulations on their use, requiring the organization to apply them to a specified project or purpose.

Specific Project

A distinct endeavor with set objectives, timeline, and resources allocated for completion.