Which financial statement would you use to find out how well the company performed during a given time period?
A) Statement of cash flows
B) Income statement
C) Statement of financial position/ Balance sheet
D) Statement of retained earnings

Question

Quizplus · Accepted Answer

The income statement shows the revenues, expenses, and net income (or loss) of a company during a specified time period, usually one year. It provides an overview of the company's financial performance for that period.

Which Financial Statement Would You Use to Find Out How