When preparing a company's income statement:
A) commonly controlled corporations cannot combine all of their revenues and expenses and report them as one total.
B) the statement is prepared as of a specific date.
C) the term "other" generally notes that the amount is not sufficiently material to label it separately.
D) expenses are listed before revenues.

Question

Quizplus · Accepted Answer

The term "other" in an income statement generally indicates that the amount is not material enough to be labeled separately.

Answer: D
 In an income statement, expenses are listed before revenues.

When Preparing a Company's Income Statement