A(n) ________ represents the profits or losses incurred by an organization.
A) expense budget
B) income statement
C) ratio analysis
D) capital expenditures budget
E) balance sheet

Question

Quizplus · Accepted Answer

The income statement summarizes an organization's financial results, or its revenues and expenses, over a specified period of time, such as a quarter or a year.

A(n) ________ Represents the Profits or Losses Incurred by an Organization