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Financial statements: Which item does <em>not</em> appear on a company’s balance sheet? Select the option that belongs to the income statement rather than the balance sheet.

Q: Financial statements: Which item does not appear on a company’s balance sheet? Select the option that belongs to the income statement rather than the balance sheet.

Concept The balance sheet shows assets, liabilities, and equity at a point in time. Sales revenue is an income statement (profit & loss) item over a period. Final Answer Sales revenue (turnover)

Difficulty: Easy

Share capital
Trade receivables (debtors)
Plant and machinery (fixed assets)
Sales revenue (turnover)

Correct Answer: Sales revenue (turnover)

Explanation:

Concept
The balance sheet shows assets, liabilities, and equity at a point in time. Sales revenue is an income statement (profit & loss) item over a period.

Final Answer
Sales revenue (turnover)

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