Expenses are shown on the
A) income statement.
B) statement of changes in stockholders' equity.
C) balance sheet.
D) all of these.

Question

Quizplus · Accepted Answer

Expenses are shown on the income statement as they represent the cost of doing business during a specific period. The income statement shows the revenues earned and expenses incurred during that period, resulting in either a profit or loss. Expenses are not shown on the balance sheet or statement of changes in stockholders' equity.

Expenses Are Shown on the