The financial statement(s)that record activity over an interval of time include the:
A)Income statement.
B)Balance sheet.
C)Balance sheet and income statement.
D)Income statement and statement of cash flows.

Question

Quizplus · Accepted Answer

The income statement and statement of cash flows record activity over a period of time, showing a company's revenue and expenses, as well as its cash inflows and outflows. The balance sheet, on the other hand, provides a snapshot of a company's financial position at a specific point in time.

The Financial Statement(s)that Record Activity Over an Interval of Time