The Income Statement Reports All of the Following Except

question 113

Multiple Choice

The income statement reports all of the following except:

• A) Revenues earned by a business.
• B) Expenses incurred by a business.
• C) Assets owned by a business.
• D) Net income or loss earned by a business.
• E) The time period over which the earnings occurred.

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Definitions:

Extra Money

Additional funds or income that exceed regular earnings or expected amounts.

Extra Hours

Additional time worked beyond the standard or scheduled working hours.

Family

A social unit consisting of parents and their children, considered as a group, whether dwelling together or not; often extends to include relatives.

Customer Service

Assistance and advice provided by a company to those people who buy or use its products or services.