Which of the following is shown on the income statement?

Question

Quizplus · Accepted Answer

The income statement summarizes the results of operations, including revenue, expenses, and net income or loss, for a specific period of time (such as a quarter or a year). It does not provide information on how much profit the company has earned since it began operations (as this would require a cumulative income statement), the amount of cash on the balance sheet (which is shown on the balance sheet itself), or the liquidity of the company on an annual basis (which might be inferred from the income statement, but is not explicitly shown).

Which of the Following Is Shown on the Income Statement