All of the following accounting elements are found on the income statement, except ____________. A)revenue B)operating expenses C)net income D)liabilities

Question

Quizplus · Accepted Answer

Liabilities are not found on the income statement. The income statement reports on a company's revenues and expenses, resulting in the calculation of net income or loss. Liabilities are typically reported on the balance sheet, which presents a snapshot of a company's financial position at a specific point in time.

All of the Following Accounting Elements Are Found on the Income