Which statement lists revenues and expenses,and shows the amount of profit a business makes for a specified period of time?
A)Balance sheet
B)Statement of retained earnings
C)Income statement
D)Cash flow statement

Question

Quizplus · Accepted Answer

The income statement is the financial statement that lists a business's revenue and expenses for a specific period of time, typically a quarter or year. It subtracts the expenses from the revenue to calculate the net income or profit for that period.

Which Statement Lists Revenues and Expenses,and Shows the Amount of Profit