Q: Which would you find on an Income Statement?

Answer: A

Explanation:

The correct answer is:

A. Expense ✅

👉 Explanation:

The Income Statement (Profit & Loss Account) shows a company’s revenues and expenses over a period to determine profit or loss.
Expenses (like salaries, rent, utilities, cost of goods sold) are recorded here.
Fixed Assets (like machinery, buildings) and Liabilities (like loans, payables) appear on the Balance Sheet, not the Income Statement.

💡 Remember:
Income Statement = Revenues – Expenses → Net Profit/Loss

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