The income statement can be reduced to three primary categories. Which of the following is NOT one of them?

Name: The income statement can be reduced to three primary categories. Which of the following is NOT one of them?
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Question

Quizplus · Accepted Answer

The three primary categories of an income statement are revenue, expenses, and net income (or loss). Shareholder's equity is not a category on the income statement but a component of the balance sheet.

The Income Statement Can Be Reduced to Three Primary Categories