Many business decisions are made in hopes of improving a firm's "bottom line." Which of the following financial statements will reflect a firm's "bottom line?"
A)income statement
B)trial balance
C)balance sheet
D)cash flow statement

Question

Quizplus · Accepted Answer

The income statement, also known as the profit and loss statement, summarizes a company's revenue and expenses over a period of time (usually a quarter or a year) to determine its net income or loss. This net income, or the amount that remains after deducting all expenses from revenue, is often referred to as the "bottom line" of a company's financial performance.

Many Business Decisions Are Made in Hopes of Improving a Firm's