Which of the following financial statements reports expenses in decreasing order of their amounts, by stating the largest expense first?
A)statement of cash flows
B)income statement
C)statement of owner's equity
D)balance sheet

Question

Quizplus · Accepted Answer

The income statement reports revenues and expenses for a specific period of time and presents expenses in decreasing order of their amounts, by stating the largest expense first.

Which of the Following Financial Statements Reports Expenses in Decreasing