Respuesta :
A statement that records where your money has come from and where it has gone over some period of time is called a income statement.
Describe the income statement.
You can see the company's income and expenses on an income statement, which is a financial statement.
It also reveals if a business is profitable or losing money over a specific time frame. You can better grasp your company's financial situation with the aid of the income statement, balance sheet, and cash flow statement.
The term "income statement" can also refer to a statement of operations, a profit and loss statement, a statement of financial result or income, or an earnings statement.
A business owner might use an income statement to determine whether they can increase profits by boosting revenues, cutting costs, or doing both. It also demonstrates the viability of the goals the company set at the start of a given fiscal year.
Learn more about income statement. here:
https://brainly.com/question/14308954?
#SPJ4
