13.7k views
0 votes
Which of the following is a required financial statement?

A) Income statement
B) Project plan
C) Meeting agenda
D) Employee handbook

1 Answer

5 votes

Final answer:

The correct answer is A) Income statement. It provides information about a company's revenues, expenses, and net income for a specific period of time.

Step-by-step explanation:

The correct answer is A) Income statement. The income statement is a required financial statement that provides information about a company's revenues, expenses, and net income for a specific period of time. It shows how profitable a company is during that period and is used by investors, creditors, and other stakeholders to assess a company's financial performance.

An income statement typically includes revenue from sales, operating expenses such as salaries and rent, and non-operating expenses like interest payments. It starts with sales or revenue and subtracts various costs and expenses to arrive at net income.

Other financial statements, such as the balance sheet and cash flow statement, are also important but are not required options in the given choices.

User Cara
by
8.8k points