Question
The financial statement that shows business results in terms of revenue and expenses is __________.
an income statement
a balance sheet
a statement of owner's equity
the statement of cash flows
Answer A
Answers
Ms. Sue
A doesn't make sense. An income statement doesn't cover expenses.
Angela
but Miss Sue Income statement. Presents the revenues, expenses, and profits/losses generated during the reporting period. ...
Ms. Sue
I'm sorry. I assumed I knew what an income statement was. I did not. You are right.
https://www.investopedia.com/terms/i/incomestatement.asp
https://www.investopedia.com/terms/i/incomestatement.asp