A firm's income statement contains data measured over a period of time, as opposed to being measured at a point in time.

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An income statement, also known as a profit and loss statement, shows a company's revenues, expenses, and net income or loss over a specified period of time, such as a month, quarter, or year. It is therefore a measure of performance over a period of time, rather than a single point in time.

A Firm's Income Statement Contains Data Measured Over a Period