Which of the following is an income statement item?
A) Accounts payable
B) Accrued taxes
C) Retained earnings
D) Selling and administrative expenses

Question

Quizplus · Accepted Answer

Selling and administrative expenses are items that appear on the income statement as part of the calculation of net income. Accounts payable and accrued taxes are items that appear on the balance sheet, and retained earnings is a cumulative account that appears on the balance sheet and changes as a result of net income or dividends paid.

Which of the Following Is an Income Statement Item