Which financial statement matches asset increases from operating a business with asset decreases from operating the business?
A) Balance sheet
B) Statement of changes in stockholders' equity
C) Income statement
D) Statement of cash flows

Question

Quizplus · Accepted Answer

The income statement matches the revenues (asset increases) from operating a business with the expenses (asset decreases) from operating the business, showing the net income or loss over a specific period.

Which Financial Statement Matches Asset Increases from Operating a Business