What information can be found on an income statement?
A) The financing and investing activities during an accounting period.
B) Cash inflows and cash outflows.
C) A reconciliation of the beginning and ending balances of all revenue accounts.
D) Revenues, expenditures, net profit or loss and net profit or loss per share.

Question

Quizplus · Accepted Answer

An income statement shows revenues, expenditures, net profit or loss, and net profit or loss per share for a specific period of time. Choice A refers to a statement of cash flows, while choice B refers to a cash flow statement. Choice C refers to a revenue reconciliation statement.

What Information Can Be Found on an Income Statement