Identify the type of accounts that would appear on a firm's income statement
A) assets and liabilities.
B) revenues and expenses.
C) assets and revenues.
D) liabilities and expenses.

Question

Quizplus · Accepted Answer

The income statement reports a firm's revenues and expenses over a specific period of time, typically a quarter or a year. Therefore, the type of accounts that would appear on a firm's income statement are revenues and expenses.

Identify the Type of Accounts That Would Appear on a Firm's