A statement of profit and loss is another name for
A)The income statement.
B)The accounting equation.
C)The statement of cash flows.
D)The statement of changes in equity.
E)The balance sheet.

Question

Quizplus · Accepted Answer

A statement of profit and loss is also known as the income statement. It shows the revenues, expenses, and net income (or loss) of a business over a given period of time.

A Statement of Profit and Loss Is Another Name for