Which of the following is a type of financial statement that describes a firm's revenues and expenses and indicates whether the firm has earned a profit or suffered a loss during a given period?
A)Income statement
B)Balance sheet
C)Cash flow statement
D)Statement of financial position
E)Statement of owner's equity

Question

Quizplus · Accepted Answer

The income statement is a financial statement that describes a firm's revenues and expenses and indicates whether the firm has earned a profit or suffered a loss during a given period.

Which of the Following Is a Type of Financial Statement