The statement of financial performance is known as the:
A)statement of cash flows.
B)statement of stockholders' equity.
C)balance sheet.
D)income statement.

Question

Quizplus · Accepted Answer

The statement of financial performance, also known as the income statement or profit and loss statement, reports the company's revenues, expenses, and net income or loss over a specific period of time. The other options are different financial statements that provide other types of information, such as the cash flows (A), changes in stockholders' equity (B), or the company's assets, liabilities, and equity at a specific point in time (C).

The Statement of Financial Performance Is Known as The