The income and expense statement examines your financial:
A)obligations.
B)performance.
C)position.
D)assets.
E)objectives.

Question

Quizplus · Accepted Answer

The income and expense statement, also known as the income statement or profit and loss statement, shows the financial performance of a business or individual over a period of time by comparing their income against their expenses. This analysis allows one to assess how well they are doing financially, which falls under the category of financial performance. Therefore, the correct choice is B.

The Income and Expense Statement Examines Your Financial