Match the term with its definition.
-A financial report showing the amount of profits or losses from a firm's operations over a given time period
A)balance sheet
B)debt
C)debt ratio
D)dividends
E)income statement (profit and loss statement)
F)interest expense
G)mortgage
H)operating expenses
I)owners' equity
J)retained earnings
K)total asset turnover

Question

Quizplus · Accepted Answer

An income statement (profit and loss statement) shows the amount of profits or losses from a firm's operations over a given time period.

Match the Term with Its Definition