Multiple Choice
Which of the following is true of income statement accounts?
A) Costs incurred to help generate revenue are only reported as expenses on the income statement if they are paid in cash in the same period as the revenue received.
B) Revenue accounts are shown after the amount of expense accounts on the income statement.
C) Revenue accounts include accounts receivable,unearned revenue and cash accounts.
D) There is no net income account.
Correct Answer:

Verified
Correct Answer:
Verified
Q23: If a company provides a service and
Q24: This month,a company performed $517,000 of services
Q26: Net Income on the Income Statement is
Q30: In January,a company pays for advertising space
Q31: Which of the following statements is true
Q33: A dance studio accepts $1,500 to provide
Q49: Which of the following is an expense
Q56: An increase in operating expenses would have
Q70: This month,Grass is Greener Lawn Service pays
Q110: During April,the Grass is Greener Company buys