Question

Gregor needs to know exactly how much revenue his company generated in the first quarter of the year. What type of financial statement should he look at?

Answer 1

income statement

Explanation:

There are 4 types of financial statements

1. the income statement
2. the statement of cash flows
3. the balance sheet
4. the statement of changes in equity

The income statement records the net profit or loss of company in a particular period. it records the revenues and expenses.

the balance sheet contains information about the asset, liabilities and equity of a company

the statement of cash flows records the inflow and outflow of cash in an organisation

the statement of changes in equity records changes in equity