Multiple Choice
Which financial statement shows whether the business earned a profit or loss,and also lists the types and amounts of the revenues and expenses?
A) Balance sheet.
B) Statement of changes in equity.
C) Statement of cash flows.
D) Income statement.
E) Statement of financial position.
Correct Answer:

Verified
Correct Answer:
Verified
Q1: Internal users include creditors, shareholders, internal auditors
Q51: Business events do not affect the accounting
Q64: The accounting equation is the link between
Q130: Withdrawals represent distributions from a corporation to
Q160: Items such as sales slips, invoices, cheques,
Q216: The conceptual framework summarizes the qualitative characteristics
Q231: Profit is another name for:<br>A) The income
Q237: A business:<br>A) Is one or more individuals
Q238: A(n)_ is a business owned by one
Q241: The question of when revenue should be