The income statement is also known as the ________.
A) statement of operations
B) statement of cash flows
C) statement of stockholders' equity
D) statement of financial position

Question

Quizplus · Accepted Answer

The income statement is also known as the statement of operations, as it shows the company's operations and financial performance during a specific period of time. The other options, such as the statement of cash flows and the statement of stockholders' equity, show different aspects of a company's financial position. The statement of financial position is also known as the balance sheet, which is a different financial statement altogether.

The Income Statement Is Also Known as the ________