The Statement of ___ is for shareholders to assess company profitability.
A) Cash Flows
B) Shareholders' Equity
C) Financial Position
D) Income

Question

Quizplus · Accepted Answer

The Statement of Income (also known as Income Statement or Profit and Loss Statement) is used to show shareholders the profitability of a company by displaying its revenues, expenses, and net income (or loss) for a given period of time. Choices A, B, and C refer to other financial statements which provide different types of information, such as the company's cash inflows and outflows, assets and liabilities, and financial position.

The Statement of ___ Is for Shareholders to Assess Company