The financial report that measures the financial performance of your business on a monthly or an annual basis is the ______.
A)profit and loss statement
B)income tax statement
C)balance sheet
D)credit report

Question

Quizplus · Accepted Answer

The profit and loss statement, also known as the income statement, is a report that shows revenue, expenses, and net income or loss over a period of time. It is used to measure the financial performance of a business on a monthly or annual basis. The other options (income tax statement, balance sheet, and credit report) are different financial reports that serve different purposes.

The Financial Report That Measures the Financial Performance of Your