We measure income statement accounts at a point in time and balance sheet accounts over a period of time.We measure income statement accounts over a period of time and balance sheet accounts at a point in time.

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We measure income statement accounts over a period of time (e.g., revenue, expenses over a month, quarter, or year) and balance sheet accounts at a point in time (e.g., assets, liabilities, and equity at the end of a reporting period).

We Measure Income Statement Accounts at a Point in Time