Which of the Following Appears on Both the Income Statement

question 43

Multiple Choice

Which of the following appears on both the income statement and statement of owner's equity?

• A) Owner, Capital, ending balance
• B) Total revenues
• C) Net income
• D) Owner, Withdrawals

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Definitions:

Activity-based Costing

A costing method that first assigns costs to activities and then to products based on each product’s use of activities.

Customer Orders

Requests placed by customers for the purchase of goods or services from a company.

Activity-based Costing

An accounting method that assigns costs to products or services based on the resources they consume.

Activity-based Costing

A method of accounting where costs are assigned to products or services based on the activities needed for their production.