> > >

Financial Reporting MCQs

How are the income statement and balance sheet linked?

Cash from the balance sheet transfers to the income statement

They are not linked directly

All debt payments show on both the income statement and balance sheet

Net income from the income statement transfers to the balance sheet equity section

Answer

Correct Answer: Net income from the income statement transfers to the balance sheet equity section

Explanation:

Note: This Question is unanswered, help us to find answer for this one

Financial Reporting Skill Assessment

Your Skill Level: Poor

Retake Quizzes to improve it