BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -An income statement shows a company’s revenues, expenses and profitability over a period of time. It is also sometimes called a profit-and-loss (P&L) statement or an earnings statement.

Detailed explanation-2: -Income Statements. An income statement is a report that shows how much revenue a company earned over a specific time period (usually for a year or some portion of a year). An income statement also shows the costs and expenses associated with earning that revenue.

Detailed explanation-3: -The income statement focuses on the revenue, expenses, gains, and losses of a company during a particular period. An income statement provides valuable insights into a company’s operations, the efficiency of its management, underperforming sectors, and its performance relative to industry peers.

Detailed explanation-4: -The correct answer is (a) Income statement. Income statement is the financial report that shows the company’s revenue and expenses during the period. At its bottom line, this reports if the company had net loss or net income.