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What category on the income statement should be recorded

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Reference no: EM132998799

Problem 1: An income statement is analogous to a company's .

Group of answer choices

Option 1: accounts receivable statement

Option 2: profit and loss statement

Option 3: net worth statement

Option 4: tax statement

Problem 2: Assume your company has purchased part ownership (shares) in one of its supplier companies. If the supplier company earns a profit and delivers $100,000 of that profit to your company as its portion of the earnings, under what category on the income statement should the $100,000 be recorded?

Group of answer choices

Option 1: Profit from Investments

Option 2: Sales

Option 3: Other Operating Income

Option 4: Earnings Before Taxes (EBT)

Reference no: EM132998799

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