The income statement is prepared from the data in the
A) assets column.
B) liabilities column.
C) owner's equity column.
D) liabilities and owner's equity column.

Question

Quizplus · Accepted Answer

The income statement is prepared from the data in the owner's equity column because it reflects the company's revenues and expenses, which are directly related to the changes in the owner's equity over a period.

The Income Statement Is Prepared from the Data in the