An income statement can also be referred to as a(an):
A) Profit report
B) Profit and loss statement
C) All of these options
D) Operating statement

Question

Quizplus · Accepted Answer

An income statement is known by several names, including a profit report, a profit and loss statement, and an operating statement. These terms are used interchangeably to describe the financial statement that summarizes a company's revenues, expenses, and profits/losses over a specific period.

An Income Statement Can Also Be Referred to as A(an)