Question

Which of the following characteristics describes a statement of changes in owner's equity?

Answer 1

The income statement presents the revenues and expenses for a specific period of time. (C)

summarizes the changes in retained earnings for a specific period of time Statement of retained earnings

reports the assets, liabilities, and stockholders' equity at a specific date Statement of financial position

presents the revenues and expenses for a specific period of time Income Statement

reports the changes in assets, liabilities, and stockholders' equity over a period of time Notes in financial statement