Part 1: Net income and earnings are the same thing and are the bottom line of the income statement. True or false?part 2: revenue and sales are both the same thing and are the top of the line of the income statement. True or false? Net income and and earnings are the same thing and are the bottom line of theincome statement.O TrueO FalseRevenue and sales are both the same thing and are the top line of the incomestatement.O TrueFalse

Income statement is the summary of revenue and expenses of the company for a particular period. The…

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Net income and earnings are the same thing and are the bottom line of the income statement. True or false?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 32MCQ

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Question

Part 1: Net income and earnings are the same thing and are the bottom line of the income statement. True or false?

part 2: revenue and sales are both the same thing and are the top of the line of the income statement. True or false?

Net income and and earnings are the same thing and are the bottom line of the
income statement.
O True
O False
Revenue and sales are both the same thing and are the top line of the income
statement.
O True
False

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