A statement of profit and loss is another name for
A) the income statement
B) the balance sheet
C) the statement of cash flows
D) the statement of changes in equity
E) the accounting equation

Question

Quizplus · Accepted Answer

A statement of profit and loss is another term for the income statement, which shows a company's revenues and expenses over a specific period of time, and ultimately calculates the net income or loss for that period.

A Statement of Profit and Loss Is Another Name for