John is reviewing the company's costs and expenses against revenue for the last year.John is reviewing the firm's:
A)balance sheet.
B)income statement.
C)sources and uses of funds statement.
D)pro forma.

Question

Quizplus · Accepted Answer

John is comparing costs and expenses against revenue, which are both components of an income statement. A balance sheet shows the company's assets, liabilities, and equity at a specific point in time, sources and uses of funds statement shows how the company obtained and used its funds over a specific period and pro forma is a projected financial statement for future periods.

John Is Reviewing the Company's Costs and Expenses Against Revenue