The financial statement that reports net income or net loss
Income Statement

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Life Skills
•
11th - 12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
Income Statement
2.
FLASHCARD QUESTION
Front
Drawing a double line does not apply to the Income Statement
Back
False
3.
FLASHCARD QUESTION
Front
To prepare an Income Statement financial statement, you take the information from which columns of the work sheet?
Back
Income Statement
4.
FLASHCARD QUESTION
Front
Which Financial Statement identifies a company's financial position?
Back
Balance Sheet
5.
FLASHCARD QUESTION
Front
Which is not included on the income statement? Options: heading, revenue for the period, liabilities for the period, Profit and loss
Back
liabilities for the period
6.
FLASHCARD QUESTION
Front
Which statement shows how the owner’s financial interest changes during the accounting period? Options: Balance Sheet, Statement of Cash Flows, Statement of Changes in Owner's Equity, Profit-and-Loss Statement
Back
Statement of Changes in Owner's Equity
7.
FLASHCARD QUESTION
Front
Managers and owners use these to make their business decisions: The Work Sheet, Financial Statements, Accounting Equation, The Trial Balance
Back
Financial Statements
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