Shivam's new company has about $800,000, but Shivam is nervous because all of that money is either from investors or bank loans. The company hasn't actually made any money from operations yet. Which of the following displays whether they made money or not?
A) expense statement
B) revenue report
C) balance sheet
D) income statement

Question

Quizplus · Accepted Answer

The income statement displays whether a company made money from operations or not. It shows the revenue earned and subtracts the expenses incurred during a specific period to determine the net income or loss.

Shivam's New Company Has About $800,000, but Shivam Is Nervous