The income statement has income and expenses option (A) Income statement is correct.
An income statement is a financial statement that displays a firm's revenue and costs. It can also show if a company earns or loses money over time. The financial statements, along with the cash flow statement, help you to understand the financial condition of your organization.
From the definition, the income statement has income and expenses.
A profit and loss statement, statement of operations, statement of financial result or income, or earnings statement are all terms for the income statement.
Thus, the income statement has income and expenses option (A) Income statement is correct.
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