Normally,the report prepared for a department is a(n):

Question

Quizplus · Accepted Answer

An income statement provides information on the revenues, expenses, gains, and losses incurred by a department during a specific period of time. It gives a clear picture of the department's profitability and helps in making financial decisions. Cash flow statement, statement of equity, and balance sheet are also financial statements but they provide information on different aspects of the department's financial position.

Normally,the Report Prepared for a Department Is A(n)