Question

How many of the following items are found on the balance sheet, rather than the income statement?
Accounts receivable
Retained earnings e
Income tax expense
Accrued payable .
cash .
Selling and administrative expenses .
Plant and equipment .
Operating expense .
Marketable securities
Interest expense
A) Four of these items are found on the balance sheet
B) Six of these items are found on the balance sheet.
C) Five of these items are found on the balance shect.
D) Three of these items are found on the balance sheet

Answer 1

Answer:

B) Six of these items are found on the balance sheet.

Explanation:

Six items fall under assets or liabilities or share capital, which only appear in the balance sheet rather than income statement.

The items are the following;

Accounts receivable

Accrued payable

cash

Plant and equipment

Marketable securities

Retained earnings