In the income statement, it’s mainly about the revenue and the expenses of a business entity.（ ）
举一反三
- Which statement summarizes financial performance resulting from income (revenue and gains) less expenses (including losses). A: Balance sheet B: Income statement C: Cash flow statement
- A multiple-step income statement provides users with more information about a company’s income performance. ( )
- Which of the following is false? ( ) A: The contribution margin is equal to sales revenue minus variable expenses B: A contribution margin income statement is organized by cost behavior C: Under absorption costing, the fluctuation of inventory levels will impact operating income, regardless of sales revenue . D: The operating income of manufacturers will always be the same, regardless of whether variable or absorption costing is used
- Which accounts appear on which financial statement? A: Balance sheet: Receivables, land, payablesIncome statement: Revenues, supplies B: Balance sheet: Cash, revenues, landIncome statement: Expenses, payables C: Balance sheet: Cash, receivables, payables Income statement: Revenues, expenses D: Balance sheet: Expenses, payables, cash Income statement: Revenues, receivables, land
- Which financial statement reports revenues and expenses?（ ）。 A: Statement of Retained Earnings B: Income Statement C: Statement of Cash Flows D: Balance Sheet