Which of these is NOT a section of an income statement?

The correct answer is that current liabilities are not a section of an income statement. An income statement primarily focuses on the revenues, expenses, and profits or losses of a business over a specific period of time. It includes sections such as revenue or sales, gross profit, and net income from operations.

Current liabilities, on the other hand, are found on the balance sheet, which provides a snapshot of a company's financial position at a specific point in time. Liabilities reflect what the company owes to creditors and are categorized as either current or long-term. Since the income statement's purpose is to measure profitability rather than financial position, current liabilities do not belong in this statement.

Understanding the distinct functions of the income statement and the balance sheet is crucial for effective financial analysis and reporting.