Question

Bianca is setting up a workbook for her bakery; it totals all the money she made last month from sales and subtracts the costs of running the business (equipment, rent for her building, employee costs, taxes, etc.). What kind of workbook is this?


profit–loss statement


currency conversion


inventory


balance sheet

Answer 1

profit–loss statement

It totals revenue (sales) and subtracts expenses (equipment, rent, payroll, taxes, etc.) to show net profit or loss for the period.