Which type of account would NOT be reported on the income statement?
A) Revenue
B) Expenses
C) Withdrawals
D) None of these answers are correct.

Question

Quizplus · Accepted Answer

Withdrawals are a type of account that is reported on the statement of owner's equity, not on the income statement. The income statement reports revenues and expenses to determine net income or net loss for a period of time.

Which Type of Account Would NOT Be Reported on the Income