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Which item would not appear on a Balance Sheet?1 pointRetained EarningsAccounts Receivable Prepaid expenses Interest Payable Gross Profit

Question

Which item would not appear on a Balance Sheet?1 pointRetained EarningsAccounts Receivable Prepaid expenses Interest Payable Gross Profit
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Solution 1

The item that would not appear on a Balance Sheet is "Gross Profit".

Here's why:

  1. A balance sheet is a financial statement that provides a snapshot of what a company owns (assets), what it owes (liabilities), and the shareholders' interest (equity) at a specific point in time.

  2. "Retained Ear Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.

Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
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