Question

_______is a summary of revenue income and revenue expenses of a particular period.​

Answer 1

Answer:

Also known as the profit and loss statement or the statement of revenue and expense, the income statement primarily focuses on the company's revenues and expenses during a particular period

Answer 2

The summary is the income statement

• This statement is a detailed financial statement that lists the total revenue and expenses of the firm utilised in a specific time period.
• It lists the company's earnings for a particular financial time period and it displays the sum of money used to produce income.
• It comes in various formats and every format of the income statement has its advantages
• Additionally, it reflects a company's profit or loss and the overall revenue over a specific time frame.
• It helps the firm to better comprehend their company's financial situation by comparing the income statement to the balance sheet, cash flow statement, and cash flow forecast.

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