Which statement(s)reports the revenues, gains, expenses, and losses of an entity?
A)Balance sheet
B)Statement of cash flows and income statement
C)Statement of retained earnings and statement of operations
D)Income statement

Question

Quizplus · Accepted Answer

The income statement reports the revenues, gains, expenses, and losses of an entity, showing the net profit or loss over a specific period.

Which Statement(s)reports the Revenues, Gains, Expenses, and Losses of an Entity