The income statement answers which question?
A)How much cash did the firm generate?
B)How profitable was the business?
C)How much money does the company owe?
D)How much money did the owners invest?

Question

Quizplus · Accepted Answer

The income statement shows the revenue and expenses of a business over a period of time, and calculates the net profit or loss. Therefore, it provides information about the profitability of the business.

The Income Statement Answers Which Question