Question

The _________ provides a financial summary of the firm’s operating results during a specified period. Select...

The _________ provides a financial summary of the firm’s operating results during a specified period.

Select one:

a. balance sheet.

b. statement of retained earnings.

c. statement of cash flows.

d. income statement.

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Answer #1

Income statement provide financial summary of the firm operating result during a specified period because it will be including all the incomes of the company during the period and it will also include all the expenses of the company during the period and it will also include the operating activities of the companies during the period.

balance sheet, the statement of retained earning and cash flows are not measuring the operating results of the company.

So, the correct answer is option( d) income statement

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