The body of the income statement consists of an itemized list of
A) assets and liabilities.
B) assets and owner's equity.
C) cash and revenues.
D) revenues and expenses.

Question

Quizplus · Accepted Answer

The body of the income statement consists of revenues and expenses. It shows the income earned and expenses incurred by the business during a specific period, resulting in either a net profit or loss. The income statement does not include assets, liabilities, or owner's equity.

The Body of the Income Statement Consists of an Itemized