GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A report of a company’s income, expenses, and profits over a certain period of time.
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Balance Sheet
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Cash Flow Statement
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Outlay Costs
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Income Statement
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Explanation:
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: -A profit and loss statement (P&L), or income statement or statement of operations, is a financial report that provides a summary of a company’s revenues, expenses, and profits/losses over a given period of time.
Detailed explanation-3: -The purpose of an income statement is to show a company’s financial performance over a period. It tells the financial story of a business’s activities. Within an income statement, you’ll find all revenue and expense accounts for a set period.
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