The income statement shows amounts for: Group of answer choices revenues, expenses, losses, and liabilities revenues, expenses, gains, and fair value per share. revenues, assets, gains, and losses. revenues, gains, expenses and losses.

Question

Business

Hayley Ayala

11 October, 00:46

The income statement shows amounts for: Group of answer choices revenues, expenses, losses, and liabilities revenues, expenses, gains, and fair value per share. revenues, assets, gains, and losses. revenues, gains, expenses and losses.

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Answers (1)

Know the Answer?

Rachel Norris · Answer 1

The correct answer is revenues, gains, expenses and losses.

Explanation:

The income statement is an accounting information that shows the net income or profit after tax of an organization by way of showing the elements of a financial statement. For example, revenue, operating expenses.

In option (a), the income statement shows all except liabilities, which are a component of balance sheet.

In option (b), the income statement shows all except fair value per share.

In option (c), the income statement shows all except assets, which are a component of balance sheet.