The income and expense statement examines your financial
A)level.
B)performance.
C)position.
D)assets.
E)objectives.

Question

Quizplus · Accepted Answer

The income and expense statement, also known as the profit and loss statement, examines your financial performance by detailing the revenues and expenses over a specific period of time. It shows whether you have generated a profit or incurred a loss, and is an important tool for evaluating the financial health of your business.

The Income and Expense Statement Examines Your Financial