All of the Following Will Appear on the Income Statement

question 138

Multiple Choice

All of the following will appear on the income statement EXCEPT for:

• A)assets.
• B)expenses.
• C)gains.
• D)revenues.

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Definitions:

Retirement Fund

A pool of funds accumulated during an individual's working life, intended to provide financial security upon retirement.

Invest

To allocate money in the expectation of some benefit in the future, such as income or profit.

Compounded Semi-annually

A method where interest is calculated and added to the principal twice a year.

Payments

The act of transferring money from one party to another in exchange for goods, services, or to fulfill a legal obligation.