The financial statement summarizing a firm's performance over a period of time is the:
A) Statement of comprehensive income.
B) Statement of financial position.
C) Statement of cash flows.
D) Tax reconciliation statement.
E) Shareholders' equity sheet.

Question

Quizplus · Accepted Answer

The statement of comprehensive income summarizes a firm's performance over a period of time, including both its revenues and expenses.

The Financial Statement Summarizing a Firm's Performance Over a Period