The income statement measures a business's profitability over a specific period such as a year.

Name: The income statement measures a business's profitability over a specific period such as a year.
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The income statement, also known as the profit and loss statement, details a company's revenues and expenses over a specific period, such as a year, to calculate its net income or profit, thus measuring its profitability.

The Income Statement Measures a Business's Profitability Over a Specific