The ____ gives information about the projected profit or loss status of the business for a specified period of time.
A)balance sheet
B)statement of cash flows
C)current ratio
D)profit margin
E)income statement

Question

The ____ gives information about the projected profit or loss status of the business for a specified period of time. ​
A)balance sheet
B)statement of cash flows
C)current ratio
D)profit margin
E)income statement

Quizplus · Accepted Answer

The income statement provides detailed information about a company's revenues, expenses, and ultimately its profit or loss over a specific period of time, making it the correct choice for projecting the profit or loss status of a business.

The ____ Gives Information About the Projected Profit or Loss