Which one of the following is an accounting statement that provides information on a firm's revenues and expenses?
A)balance sheet
B)cash budget
C)pro forma balance sheet
D)income statement
E)cash flow statement

Question

Quizplus · Accepted Answer

The income statement provides information on a firm's revenues and expenses, as well as its net income or loss for a specific period of time. The balance sheet lists a firm's assets, liabilities, and equity at a specific point in time; the cash budget forecasts a firm's inflows and outflows of cash over a specific future period; the pro forma balance sheet is a projected balance sheet for a future time period; and the cash flow statement shows a firm's sources and uses of cash over a specific period of time.

Which One of the Following Is an Accounting Statement That