An older term used for the income statement is the ________.
A) Profit and loss statement
B) Cash flow analysis
C) Balance sheet
D) Liabilities report
E) None of the above

Question

Quizplus · Accepted Answer

The term "Profit and loss statement" is an older term that was commonly used instead of "income statement" to describe a financial report that shows a company's revenues and expenses over a specific period of time.

An Older Term Used for the Income Statement Is the ________