On an income statement for the period from January 1 to June 30,_____ would not be included as an income.
A) wages and salaries received in that six months
B) interest received on June 30
C) auto sold with payment received on May 15
D) inheritance granted in April,to be paid in September
E) income tax refund received on April 14

Question

Quizplus · Accepted Answer

An inheritance granted in April, to be paid in September, would not be included on an income statement for the period from January 1 to June 30 because it was not received during that time period. The other options listed represent income received during the January 1 to June 30 period and would be included on the income statement.

On an Income Statement for the Period from January 1