BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Which financial statement displays the revenues and expenses of a company for a period of time?
|
|
Income Statement
|
|
|
Balance Sheet
|
|
|
Cash Flow Statement
|
|
|
Statement of Owners’ Equity
|
Explanation:
Detailed explanation-1: -An income statement is a financial statement that shows you the company’s income and expenditures. It also shows whether a company is making profit or loss for a given period. The income statement, along with balance sheet and cash flow statement, helps you understand the financial health of your business.
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.
There is 1 question to complete.