The net income figure appears in all the following financial statements except the
A)statement of cash flows.
B)income statement.
C)statement of owner's equity.
D)balance sheet.

Question

Quizplus · Accepted Answer

The net income figure does not appear in the balance sheet. The balance sheet shows a snapshot of a company's financial position at a specific point in time, while net income is a measure of a company's profitability over a period of time, which is reflected in the income statement. The statement of cash flows and statement of owner's equity also show information related to a company's performance over time and therefore include net income.

The Net Income Figure Appears in All the Following Financial