Another name for the income statement is

Question

Quizplus · Accepted Answer

The income statement is also commonly referred to as the statement of earnings or the profit and loss statement. It shows a business's revenues and expenses over a specific period of time, and the resulting net income. Option A refers to a different financial statement that shows the inflow and outflow of cash, while option B refers to the statement of financial position or balance sheet. Option D refers to a statement that shows changes in retained earnings over a period.

Another Name for the Income Statement Is