The Result of the Matching Process Is Reported on Which

question 77

Multiple Choice

The result of the matching process is reported on which financial statement?

• A) Balance Sheet
• B) Income Statement
• C) Statement of Changes in Stockholders' Equity
• D) Statement of Cash Flows

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Definitions:

Accounting Information

Data related to financial transactions and status of a business, used for analysis, decision making, and financial reporting.

Ending Retained Earnings

The amount of net income left over for the business after it has paid out dividends to its shareholders, captured at the close of an accounting period.

Revenues

The total income generated by a business from its normal business operations, including sales of goods and services, before any expenses are deducted.

Expenses

Outflows or using up of assets as a part of operations of a business to generate revenue.