Which of the following is not an element of financial statement A. Liability B. Capital C. Income Statement D. Assets
Question
Which of the following is not an element of financial statement A. Liability B. Capital C. Income Statement D. Assets
Solution
The answer is C. Income Statement. This is because the Income Statement is not an element of a financial statement, but rather a type of financial statement itself. On the other hand, Liability, Capital, and Assets are all elements that can be found within various types of financial statements.
Similar Questions
Statement listing assets, liabilities and owner's equity.Select one:a.Statement of Financial Positionb.Revenuec.Capitald.Expenses
financial statements is composed of?
Which of the following is not a core financial statement?The Income StatementStatement of Cash FlowsThe Trial BalanceThe Balance Shee
Which financial statement gives details on the equity, liabilities, and assets of a business at a certain moment in time? A. Income statement B. Cash flow statement C. Balance sheet D. Statement of retained earnings
(b) From the information provided and what you drafted (Trial Balance and Income Statement), select the items that belong in each of the following categories: (i) Non-Current Assets (ii) Current Assets (iii) Current Liabilities
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.