Eliza has just opened a new business near campus that is a combination of a laundromat, a nail salon, and a tanning studio. At the end of the first quarter (three months of business), Eliza wants to see if she has made a profit so she makes an appointment to meet with her accountant. When she gets to the appointment, her accountant will review which of the following financial statements with Eliza?
A. balance sheet
B. income statement
C. statement of owner's equity
Ans: B. income statement
Business
You might also like to view...
Plant assets are long-lived, tangible assets used in the operation of a business
Indicate whether the statement is true or false
Business
As currently structured, state guarantee funds will continue to collect premium payments and honor life policies and annuity obligations of a failed insurance company.
a. true b. false
Business