Melissa is the Executive Director of a local food bank and is assessing the financial situation of her not-for-profit organization.Melissa uses a(n)_____ to determine whether revenues from contributions and other sources will cover operating costs.

Question

Quizplus · Accepted Answer

The income statement (also known as the profit and loss statement) shows a company's revenues and expenses over a specific period of time, typically a month or a year. Melissa can use this statement to determine if the food bank's revenues from contributions and other sources will cover its operating costs. The statement will show the food bank's total revenue and total expenses, and whether it made a profit or a loss during the period.

Melissa Is the Executive Director of a Local Food Bank