Winston Wolfe believes it is important to produce a profit and loss statement every
A) day
B) week
C) month
D) year

Question

Quizplus · Accepted Answer

Producing a profit and loss statement every day or week may be too frequent and not necessary for most businesses. It is important to monitor finances regularly, but producing a profit and loss statement on a monthly basis allows for a good balance of consistent monitoring without the extra workload of producing it too frequently. Annual statements are also important for larger financial reviews and analysis.

Winston Wolfe Believes It Is Important to Produce a Profit