A financial document that shows the income, expenses, and profit or loss of an organization for a given period of time is a(n) :
A) budget.
B) income statement.
C) cash flow statement.
D) balance sheet.

Question

Quizplus · Accepted Answer

An income statement, also known as a profit and loss statement, details an organization's income, expenses, and profit or loss over a specific period of time, making it the correct choice.

A Financial Document That Shows the Income, Expenses, and Profit