the income statement will present_____________.
A. revenues less expensive (order is not important.
B. revenue is less expenses (ordered largest to smallest amounts) with miscellaneous expense listed last
C. revenues less expensive (ordered smallest to largest amounts) with miscellaneous expense listed last
D. revenues less expensive (ordered in alphabetical order)

Respuesta :

Answer:

The correct answer is letter "C": revenues less expensive (ordered smallest to largest amounts) with miscellaneous expense listed last.

Explanation:

The Income Statement is a report that measures the financial performance of a company over a specific accounting period. Publicly traded companies are required to produce income statements, balance sheets, and cash flow statements for each quarter and year in accordance with the Generally Accepted Accounting Principles (GAAP).

The income statement shows a company's revenue, expenses and net profit from both operating and nonoperating activities. Miscellaneous expenses -minimal and extraordinary expenses of the general ledger- are recorded at the bottom of the income statement, in case there is any.