BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A financial statement showing the revenue and expenses for a fiscal period.
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Income Statement
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Balance Sheet
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Work Sheet
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Trial Balance
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Explanation:
Detailed explanation-1: -Income Statement: a financial statement showing the revenue and expenses for a fiscal period. Balance Sheet: a financial statement that reports assets, liabilities, and owner’s equity.
Detailed explanation-2: -Also known as the profit and loss statement or the statement of revenue and expense, the income statement primarily focuses on company’s revenues and expenses during a particular period.
Detailed explanation-3: -The income statement is your revenue and expenses for a point in time.
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