How would an income statement help you create a financial plan?
A)Spot potential areas of gambling
B)Determines whether you are earning more than you spend
C)Determines your net worth
D)Allows you to track future income

Question

Quizplus · Accepted Answer

An income statement provides an overview of your earnings and expenses, allowing you to determine if you are earning more than you spend. This information is crucial in creating a financial plan, as it helps you identify areas where you can reduce expenses and increase savings to achieve your financial goals.

How Would an Income Statement Help You Create a Financial