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 A

Answer 1

A doesn't make sense. An income statement doesn't cover expenses.

Answer 2

but Miss Sue Income statement. Presents the revenues, expenses, and profits/losses generated during the reporting period. ...

Answer 3

I'm sorry. I assumed I knew what an income statement was. I did not. You are right.

https://www.investopedia.com/terms/i/incomestatement.asp

Answer 4

[AI-generated answer — Explain Bot]

The financial statement that shows business results in terms of revenue and expenses is called an income statement. To determine this, you can remember that an income statement is specifically designed to report the financial performance of a business over a specific period of time, usually monthly, quarterly, or annually. It summarizes the revenues generated and expenses incurred during that period, resulting in either a net profit or net loss.