Net Income Appears in Which Two Financial Statements

question 87

Multiple Choice

Net income appears in which two financial statements?

• A) Balance sheet and income statement.
• B) Statement of stockholders' equity and balance sheet.
• C) Income statement and statement of stockholders' equity.
• D) Net income appears in only one financial statement.

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Definitions:

Lumber

Timber sawed or split into planks, beams, and other shapes, used for building or crafting purposes.

Demand

The desire to own anything, accompanied by the power and willingness to pay for it.

Technological Advance

Refers to improvements and innovations in technology that increase productivity and efficiency in various sectors of the economy.

Tax

A compulsory financial charge or levy imposed by a government on individuals or entities to fund public services and government activities.