When a worksheet is prepared, which account would not be entered into the income statement columns?
A) Depreciation Expense.
B) Unearned Revenue.
C) Service Revenue.
D) Prepaid Insurance.

Question

Quizplus · Accepted Answer

Unearned Revenue is a liability account, and is not included in the income statement. The income statement only includes revenue and expense accounts. Depreciation Expense, Service Revenue, and Prepaid Insurance are all accounts that could be included in the income statement depending on the nature of the business and accounting policies.

When a Worksheet Is Prepared, Which Account Would Not Be