Which financial statement would indicate whether a company has made a profit or loss during the reporting period?
A) balance sheet
B) statement of financial position
C) statement of changes in equity
D) income statement

Question

Quizplus · Accepted Answer

The income statement shows the revenue, expenses, and net income (or loss) of a company during a specific period of time. Therefore, it is the financial statement that would indicate whether a company has made a profit or loss during the reporting period.

Which Financial Statement Would Indicate Whether a Company Has Made