A net income from an operation will be shown in which of the following statements? I. Statement of Profit or Loss and Other Comprehensive Income II. Statement of Changes in Equity III. Statement of Financial Position A. B. C. D. I & II. I & III. II & III. All the above. is a process that will always include debits or credits to at least one statement of profit or loss and other comprehensive income account and at least one statement of financial position account." Which of the followings BEST describe the statement above? A. Journalising. B. Posting. c. Adjusting. D. Closing. "This financial statement shows the ending balances of accounts on a specific date." The above statement is most applicable to which of the followings? A. Statement of Profit or Loss and Other Comprehensive Income B. Statement of Changes in Equity c. Statement of Cash Flows D. Statement of Financial Position Which of the following accounts will be closed prior to the preparation of the financial statements? I. Rental Revenue II. Wages Expense III. Notes Payable IV. Drawings A. MUA I, II & III. I, II & IV. II, III & IV. All the above