Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby

تمرين 51

Which of the following is true regarding the income statement
A) The income statement is sometimes called the statement of operations.
B) The income statement reports revenues, expenses, and liabilities.
C) The income statement only reports revenue for which cash was received at the point of sale.
D) The income statement reports the financial position of a business at a particular point in time.