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Which one of the following statements is correct? Select one: a. An income statement shows...

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Accounting

Which one of the following statements is correct?

Select one:

a. An income statement shows information for a specific point of time and a balance sheet shows changes over an accounting period

b. A balance sheet summarizes information concerning changes in assets, liabilities, and owners equity over an accounting period

c. A statement of owners equity is typically prepared before an income statement

d. A statement of owners equity summarizes changes in the owners capital account over an accounting period

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