A summary of a retailer's revenues and expenses over a particular time period is referred to as a _____.
A)cash flow projection
B)balance sheet
C)profit-and-loss statement
D)accounts receivable aging analysis

Question

Quizplus · Accepted Answer

A profit-and-loss statement, also known as an income statement, summarizes a retailer's revenues and expenses over a particular time period to determine the net profit or loss of the business. A cash flow projection estimates the amount of cash that will be coming in and going out of the business. A balance sheet provides a snapshot of a retailer's assets, liabilities, and equity at a specific point in time. An accounts receivable aging analysis is a report that categorizes accounts receivable according to the length of time they have been outstanding.

A Summary of a Retailer's Revenues and Expenses Over a Particular