1. Which of the following names is NOT associated with the income statement?

   P & L

   Statement Of Financial Position

   Statement Of Operations

2. 2.

   The income statement heading will specify which of the following?

   A POINT In Time

   A PERIOD Of Time

3. 3.

   Amounts earned by a company in its main operating activities are

   Revenues

   Gains

4. 4.

   A company disposes of equipment that it no longer uses in its business. The amount received by the company is more than the amount the asset is carried at in the accounting records. The company will report a(n)

   Expense

   Gain

   Loss

   Revenue