Question

The _____ _____ summarizes all the revenue from operational activities, money resources used up, expenses, and resources left after all costs and expenses.

a) Profit and loss statement
b) Balance sheet
c) Income statement
d) Cash flow statement

Answer 1

The correct answer is c) Income statement. The income statement summarizes all the revenue from operational activities, money resources used up, expenses, and resources left after all costs and expenses.

Step-by-step explanation:

The correct answer is c) Income statement. The income statement, also known as the profit and loss statement, summarizes all the revenue from operational activities, money resources used up, expenses, and resources left after all costs and expenses. It provides a snapshot of a company's financial performance over a specific period of time.