As the owner of 100 shares of Megabux Corporation's stock, Roman Sworski wants to know whether his company earned a profit or loss during the past year. He can find the answer to this by looking at which of the following of Megabux's financial statements?
A) revenue report
B) master budget
C) statement of cash flows
D) income statement

Question

Quizplus · Accepted Answer

Roman Sworski can find out if Megabux Corporation earned a profit or loss during the past year by looking at the income statement. The income statement shows the company's revenues and expenses for a specific period, and its bottom line is the net income or net loss for that period.

As the Owner of 100 Shares of Megabux Corporation's Stock