Another name for an income statement is a ____ statement.
A)credit
B)profit and loss
C)sales
D)revenue

Name: Another name for an income statement is a ____ statement. A)credit B)profit and loss C)sales D)revenue
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Question

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The income statement is often referred to as a profit and loss statement because it shows the company's revenue and expenses over a specific period and ultimately calculates the profit or loss. Choices A, C, and D do not accurately describe an income statement.

Another Name for an Income Statement Is a ____ Statement