Which kind of accounting control itemizes revenue and expenses?
A) budget
B) cash flow analysis
C) profit and loss statement
D) balance sheet

Question

Quizplus · Accepted Answer

The profit and loss statement, also known as the income statement, itemizes revenue and expenses to show a company's net income or loss over a specific period of time. A budget is a plan for future revenue and expenses, a cash flow analysis tracks the flow of cash in and out of a business, and a balance sheet shows a company's assets, liabilities, and equity at a specific point in time.

Which Kind of Accounting Control Itemizes Revenue and Expenses