The Financial Statement That Reports Whether the Business Earned a Profit

question 210

Multiple Choice

The financial statement that reports whether the business earned a profit and also lists the revenues and expenses is called:

• A) A Balance sheet.
• B) A Statement of owner's equity.
• C) A Statement of cash flows.
• D) An Income statement.
• E) A Statement of financial position.

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Definitions:

Terranes

Distinct pieces of the crust that have been attached to a continent but originated elsewhere.

Sedimentary Unit

A sedimentary unit is a distinct layer of sedimentary rock with identifiable characteristics and depositional history, making it recognizable and distinguishable from other layers.

Intrusion

The forced entry of molten rock into or between other rock formations underground.

Shear Zone

A region of the Earth's crust where rocks have been subjected to differential stress causing them to deform via shearing.