All of the following are sections of the income statement for a business except
A) cost of goods sold.
B) liabilities.
C) revenues.
D) operating expenses.
E) net income or loss.

Question

Quizplus · Accepted Answer

Liabilities are not a section of the income statement. They are recorded on the balance sheet along with assets and equity. The income statement includes sections for revenues, cost of goods sold, and operating expenses which are used to calculate the net income or loss for the business.

All of the Following Are Sections of the Income Statement