Income Summary Appears on Which Financial Statement

question 28

Multiple Choice

Income Summary appears on which financial statement:

• A)Income statement.
• B)Balance sheet.
• C)Retained Earnings statement.
• D)Income summary does not appear on any financial statement.

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Definitions:

Consumer Products

Products intended for household or family use.

Business Products

Products that are used directly or indirectly in the operation or manufacturing processes of businesses.