The statement of profit or loss and other comprehensive income answers which question?
A)How much cash did the business generate?
B)How profitable was the business?
C)How much money does the company owe?
D)How much money did the owners invest?

Question

Quizplus · Accepted Answer

The statement of profit or loss and other comprehensive income shows the revenue, expenses, and resulting profit (or loss) of the business. It also includes other comprehensive income, such as gains or losses from changes in the value of assets, which is important for understanding the overall financial performance of the business.

The Statement of Profit or Loss and Other Comprehensive Income