The correct response is:
a statement that compares revenues to expenses and presents the net income (or loss) from a period of time.
Question
What is an income statement? (1 point)
Responses
a list of all sources of income
a list of all sources of income
a statement that compares assets to liabilities
a statement that compares assets to liabilities
a statement of sales over time compared to COGS at any point of time
a statement of sales over time compared to COGS at any point of time
a statement that compares revenues to expenses and presents the net income (or loss) from a period of time
1 answer