A formal statement of the results of the operation of a business during an accounting period is called a(n)

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An income statement is a formal statement of the results of the operation of a business during an accounting period, showing revenue, expenses, and profit or loss. Option A, statement of owner's equity, shows the changes in the owner's equity during an accounting period. Option B, balance sheet, shows the financial position of the company at a specific point in time. Option C, statement of financial position, is another name for the balance sheet.

A Formal Statement of the Results of the Operation of a Business