The increase or decrease in owner’s equity is reported on the;

A. income statement.
B. statement of owner’s equity.

Question

The increase or decrease in owner’s equity is reported on the;

A. income statement. 	
  B. statement of owner’s equity. 	<<<--- Answer is B
  C. balance sheet.
  D. All of the above

Confirmed answer as "Statement of owner's equity".

Question originated from the "MyAccountingLab" through Pearson publishing

Textbook: College accounting, a practical approach, Canadian Twelfth edition - Jeffrey Slater and Brian Zwicker

zeronknight · Answer

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mathmale · Answer

Welcome!

I do believe you'd be able to finish responding to this question faster if you'd do a quick Internet search for each of the following:

  A. income statement. 	
  B. statement of owner’s equity. 	
  C. balance sheet.

In the end you'll need to know the meaning of all three terms for your accounting course.

anonymous · Answer

Actually I have done just that. I have the text book in front of me as well. However, due to the way the question is phrased, it is hard to judge exactly what the question is asking for. I did find the answer however. Thanks for the pep talk. :)