Multiple Choice
The Income Statement:
A) lists the accounts and account numbers
B) lists a company's assets
C) summarizes what a company owns and what it owes
D) reports the results of a company's operations, listing income and expenses for a period of time
Correct Answer:
Verified
Correct Answer:
Verified
Q1: What does the Chart of Accounts list?<br>A)Assets,
Q2: To add a new account to the
Q3: What are assets?<br>A)Resources that a company owns
Q4: The different types of business ownership are:<br>A)Sole
Q6: Which QuickBooks version is designed for small
Q7: Which of the following is a temporary
Q8: How do you access the Statement of
Q9: A Mortgage Payable account:<br>A)Has real estate as
Q10: What is a liability?<br>A)Inventory<br>B)An amount a company
Q11: Income Statement accounts are also called:<br>A)equity accounts<br>B)temporary