Question

The increase or decrease in owner's equity is reported on the

O A income statement.
B statement of owner's equity.
C balance sheet.
D All of the above

Accounting

Answer 1

B

Step-by-step explanation:

Owners equity also known as the Statement of Changes in Owner's Equity is an example of a financial statement. It records the owners equity and changes to the owners equity during a financial year.

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a point in time.

The income statement records a company's income and expenses in a financial year. It is used for determining if a company is earning a profit or a loss