Identify the Statement Below That Is Incorrect

Multiple Choice

Identify the statement below that is incorrect.

A) Information about profits appears in the income statement.
B) Information about assets,liabilities and owner's equity is provided primarily in the balance sheet.
C) Information about how cash is used as well as when cash is received can be found on a business's balance sheet.
D) Meaningful information about the financial condition of a business can be determined by analyzing a business's financial statements.