Which of the Following Statements About an Income Statement Is

Multiple Choice

Which of the following statements about an income statement is TRUE?

A) An income statement provides information on an organisation's profitability at a certain point in time.
B) An income statement deducts liabilities from assets to determine shareholders' equity.
C) The revenues may include contributions from owners.
D) For revenue to be included, it is not necessary for cash to have been received.