Bill, a finance manager at Iridium Inc., desires to understand why the company's profitability fell in the past 6 months. He must use ___ to understand this issue.
A) a CPM statement
B) a balanced scorecard
C) a PERT chart
D) a breakeven analysis account
E) an income statement

Question

Quizplus · Accepted Answer

An income statement provides a detailed account of a company's profitability by showing its revenues and expenses over a specific period of time. This would be the best choice for Bill to understand why the company's profitability fell in the past 6 months.

Bill, a Finance Manager at Iridium Inc