Which of the following statements helps analyze the business performance in terms of profitability?
A)income statement
B)balance sheet
C)statement of cash flows
D)statement of owner's equity

Question

Quizplus · Accepted Answer

The income statement shows the revenue, expenses, and profit (or loss) of a business over a specific period of time. It helps analyze the business performance in terms of profitability by showing the net income or net loss the business has generated during that time period.

Which of the Following Statements Helps Analyze the Business Performance