Income statement conveys a company's ability to generate profits in the current period.
Hence, Option A is correct
- An income statement is a financial statement that lists the revenue and expenses of the company. Additionally, it displays a company's profit or loss over a specific time frame.
- You may better comprehend your company's financial situation by comparing the income statement to the balance sheet, cash flow statement, and cash flow forecast.
- An income statement displays the revenues, costs, and profitability of a business over time.
- It is also sometimes referred to as an earnings statement or a profit-and-loss (P&L) statement. It displays your sales revenue for goods and services. expenses for running your firm and generating money.
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