On a balance sheet,the bottom line indicates the net income

Name: On a balance sheet,the bottom line indicates the net income - profit and loss - for the given time period.
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Question

On a balance sheet,the bottom line indicates the net income - profit and loss - for the given time period.

Quizplus · Accepted Answer

On a balance sheet, the bottom line represents the total of assets and liabilities, also known as owner's equity or shareholders' equity. Net income or profit and loss are reported on an income statement, not on a balance sheet.