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In which financial statement are the incomes that cause an increase in equity and expenses that cause a decrease in equity?    a) Balance  B) Profit Distribution Table  NS) Income statement  D) Equity Changes Table  TO) Cash Flow Statement

In which financial statement are the incomes that cause an increase in equity and expenses that cause a decrease in equity?    a) Balance  B) Profit Distribution Table  NS) Income statement  D) Equity Changes Table  TO) Cash Flow Statement

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter2: Introduction To Financial Statements
Section: Chapter Questions
Problem 15MC: Which financial statement shows the financial performance of the company on a cash basis? A. balance...
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In which financial statement are the incomes that cause an increase in equity and expenses that cause a decrease in equity?
  
 a)

Balance
 B)

Profit Distribution Table
 NS)

Income statement
 D)

Equity Changes Table
 TO)

Cash Flow Statement

 

 
Expert Solution
Step 1 Introduction

The financial statements of the business include the income statement, balance sheet and cash flow statement.

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