1) The financial statement that reports the revenues and expenses for a period of time such as a year or a month is the a) Balance Sheet b) Income Statement c) Cash Flow 2) The financial statement that reports the assets, liabilities, and stockholders' (owner's) equity at a specific date is the a) Balance Sheet b) Income Statement c) Cash Flow d) Owner's Equity 3) Revenues minus expenses equals __________. a) Net Income b) Net Income before Interest but After Tax c) Gross Income

Basic Accounting

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