An income statement ________.
A) describes the financial situation of a company at a specific point in time
B) is a summary of all of the revenues minus all of the expenses for an accounting period
C) shows the changes that took place in the amount of shareholders' equity during a period
D) is a list of all the cash collected and cash paid during a period
Correct Answer:
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A)issuance
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A)balance sheet
B)income statement
C)statement
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