The financial accounts can be of various types depending on their usage. Income statements are mostly used in the hospitality industry. Thus, option D is correct.
<h3>What are income statements?</h3>
Income statements are defined by the reports of the finances that record the income along with the expense of the company over a period of time. It is maintained annually or quarterly.
It can also be a profit and loss statement and is used in the hospitality industry to know the financial performance of the company in a record time. It includes expenses, revenues, and profits.
Therefore, option D. income statements are used extensively in the hospitality industry.
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Your question is incomplete, but most probably your full question was, This is used extensively in the hospitality industry as a means of control because it is results driven.
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• Performance appraisals
• Budgets
• Income statements
