Another name for an income statement is a ____.
A) Credit
B) Profit and Loss
C) Sales
D) Revenue

Question

Quizplus · Accepted Answer

The best choice for another name for an income statement is "Profit and Loss statement". While "Sales" and "Revenue" are both related to income, they specifically refer to the money earned from selling products or services, whereas an income statement encompasses all revenue and expenses to provide an overall picture of a business's financial performance. "Credit" is not a suitable answer as it refers to a transaction, not a financial statement.

Another Name for an Income Statement Is a ____