Question

The financial statement that shows business results in terms of revenue and expenses is __________. : an income statement a balance sheet a statement of owner's equity the statement of cash flows

Answer 1

Hello!

Short answer: The financial statement that shows business results in terms of revenue and expenses is an income statement. (Choice A)

Why?

An income statement is a company financial statement that gives out a report about a company's performance with their finance. It's also known as the profit and loss statement or statement of revenue and expense, and there are two parts: operating and non-operating.