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Question & Answer: The amount of net income is transferred from ____ to ____ A) the income statement: the statement…..

( D) taxing authorities. estion 22 The amount of net income is transferred from to . 0 A) the income statement, the statement of owners equity 0 B) the balance sheet, the statement of cash flow O C) the balance sheet, the income statement D) the income statement, the statement of expenditures Question 23 Which of the following organizations is responsible for the creation and governance O A) Financial Accounting Standards Board O B) Institute of Management Accountants 0 C) American Institute of Certined Public Accountants 0 D) Securities and Exchange Commission Question 24

The amount of net income is transferred from ____ to ____ A) the income statement: the statement of owner’s equity B) the balance sheet: the statement of cash flow C) the balance sheet: the income statement D) the income statement: the statement of expenditures Which of the following organizations is responsible for the creation and governance A) Financial Accounting Standards Board B) Institute of Management Accountants C) American Institute of Certified Public Accountants D) Securities and Exchange Commission

Expert Answer

 

Q22)

In organisation by statement of profit and loss account from the data of income or expenses we calculate net income of the organisation..

After calculate net income from income statement we transferred that income from income statement to statement of owner’s equity

so answer is A) the income statement,the statement of owner’s equity

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