Which of the following items would be listed on an income statement?
A) accounts receivable
B) cost of goods sold
C) cash flows from operations
D) current liabilities

Question

Quizplus · Accepted Answer

Cost of goods sold is a major expense for a business and is directly related to the revenue generated from the sale of goods or services. It is the cost incurred to produce or purchase the products sold during a specific period, and hence will be listed on the income statement. Accounts receivable, cash flows from operations, and current liabilities are all balance sheet items and will not be listed on the income statement.

Which of the Following Items Would Be Listed on an Income