Which Statement Is True Concerning Gains and Losses

question 134

Multiple Choice

Which statement is true concerning gains and losses?

• A)Gains and losses are reported on the balance sheet in the Assets and Liabilities sections, respectively.
• B)Gains and losses are special types of revenues and expenses that are reported on the income statement.
• C)The amounts of gains and losses are included in the calculation of the current ratio, in the numerator and denominator, respectively.
• D)Gains and losses are reported only on a multi-step income statement.

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The highest level of education an individual has completed, often used as a measure of workforce qualifications or socio-economic status.

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Stages through which a family progresses over time, from single individuals to married couples, parenthood, and retirement.

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