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A statement showing how a business performed across a given period of time is the:
AImport statement
BInterim statement
CInsured statement
DIncome statement
Answer & Solution
Correct answer: D. Income statement
1. Performance is measured over a stretch of time, not at an instant.
2. Revenues and expenses for that stretch are set against each other.
3. That report is the income statement.
_Source: OpenStax Principles of Financial Accounting, Chapter 2, Introduction to Financial Statements._
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