Vivienne wants to produce a report that measures her financial performance on a monthly basis.She wants to see selling- and expense-related activities that result in profit or loss over a period of time.She is interested in producing which of the following statements?
A)balance sheet
B)cash flow statement
C)entrepreneurs scorecard
D)income statement

Question

Quizplus · Accepted Answer

The income statement (also known as profit and loss statement) presents a summary of a company's revenues and expenses during a specified time period, showing whether the company made a profit or incurred a loss. Vivienne's interest in measuring selling- and expense-related activities that result in profit or loss over a period of time aligns with the purpose of an income statement. Thus, the best choice is D - income statement.

Vivienne Wants to Produce a Report That Measures Her Financial