Question

If you want to know whether a company had a profit or a loss during a specific period of time, which financial statement would be most helpful?
A.

Statement of owners' equity
B.

Cash flow statement
C.

Balance sheet
D.

Income statement

Answer 1

C. Cash flow statement

Answer 2

Income statement (Revenue minus expenses= Net income/loss)
Cash flow only lists cash in and out of the company, It doesn't show a gain/loss

Answer 3

Income Statement no less!

Answer 4

income statement