Identify the Statement Below That Is Incorrect

Identify the statement below that is incorrect.

A) Information about profits appears in the income statement.
B) Meaningful information about the financial condition of a business can be determined by analyzing a business's financial statements.
C) Information about how cash is used as well as when cash is received can be found on a business's balance sheet.
D) Information about assets, liabilities and owner's equity is provided primarily in the balance sheet.