Income Statement - which of the following is incorrect?

Question 65 options:

A)	A multi-step presentation highlights the differences between short-term and long-term revenues and expenses.

B)	The income statement reports the difference between revenues and expenses.

C)	We can discuss the income statement line items in terms of whether they are operating or nonoperating.

D)	A multi-step presentation highlights gross profit, operating expenses, operating income, earnings before taxes and net income.

Which of the following statements is incorrect?

Question 66 options:

A)	Noncontrolling interest is part of total shareholders' equity

B)	All liabilities are debt

C)	The accounting equation is Assets = Liabilities + Owners' Equity

D)	All debt are liabilities

Which item is typically not part of the notes to the financial statements?

Question 67 options:

A)	Detail about particular accounts

B)	Summary of accounting policies

C)	Supplementary information concerning business segments

D)	Stock performance graphs

Which of the following does not factor in to the calculation of cash flows from operating activities under the indirect method?

Question 68 options:

A)	The amortization expense associated with an intangible asset.

B)	The proceeds from issuing additional common stock.

C)	The Bad debt expense associated with the allowance for doubtful accounts.

D)	A decrease in the current liability income taxes payable.

E)	A gain on the sale of a fixed asset.