On the income statement:
A) the top line is net income.
B) all expenses must have the word "expenses" in their title.
C) gains and liabilities are reported.
D) amounts can be reported in millions of dollars to reduce clutter.

Question

Quizplus · Accepted Answer

Amounts on the income statement can be reported in millions of dollars to simplify the presentation and reduce clutter, especially for large corporations.

On the Income Statement