The last line of an income statement shows a business's ________.
A) Net profit or net loss
B) Gross profit or gross loss
C) Profit or loss
D) Taxes
E) Fixed costs

Question

Quizplus · Accepted Answer

The last line of an income statement shows the business's net profit or net loss, which is the amount left over after deducting all expenses from the revenue earned during the period. This reflects the profitability of the business. Therefore, option A is the correct answer. Options B, C, D, and E are incorrect because they either refer to a different line on the income statement or are not the last line of the income statement.

The Last Line of an Income Statement Shows a Business's