Multiple choice

Which of the following accounts would be included on an Income Statement?

  1. Owner's Capital

  2. Owner's Withdrawals

  3. Earned Revenue

  4. Unearned Revenue
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The Income Statement reports revenues and expenses over a period of time. Earned Revenue is a revenue account, whereas Owner's Capital and Withdrawals appear on the Statement of Owner's Equity, and Unearned Revenue is a liability on the Balance Sheet.

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