Which of the following is not reported on the income statement?
A)Net income.
B)Withdrawals.
C)Revenues earned by a business.
D)Expenses incurred by a business.
E)All of these answers are correct.

Question

Which of the following is not reported on the income statement? 
A)Net income.
B)Withdrawals.
C)Revenues earned by a business.
D)Expenses incurred by a business.
E)All of these answers are correct.

Quizplus · Accepted Answer

Withdrawals are not reported on the income statement, as they are not considered an expense or revenue of the business. They are instead reflected in the owner's equity section of the balance sheet.

Which of the Following Is Not Reported on the Income