A company's operating revenues for a reporting period are most likely to be shown on its:A) cash $ow statement. B) income statement. C) balance sheet.

Question

Business

Chace Myers

3 January, 23:35

A company's operating revenues for a reporting period are most likely to be shown on its:A) cash $ow statement. B) income statement. C) balance sheet.

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Corey Hebert · Answer 1

B) income statement.

Explanation:

In the income statement the account which explains the net income for hte period will be.

Revenues will represent the amount billed to customer in ex-change of our goods and services.

They will be in the income statement, then closed against income summary and be ready to start the next year with a balance of zero. While income summary balance is transfer to retained earnings as we "dump" the income in that accoun