The part of the accounting cycle that checks to see that the amount of money the business is spending is equal to the amount of income the business is generating is the financial statement. Financial statements, particularly the income statement, provide a summary of revenues and expenses, allowing an assessment of profitability and financial health.
What part of the accounting cycle checks to see that the amount of money the business is spending is equal to the amount of income the business is generating?
(1 point)
Responses
worksheet
worksheet
trial balance
trial balance
general ledger
general ledger
financial statement
financial statement
1 answer