Question

The statement that reports net income or loss for a certain period in time is the

Answer 1

The correct answer is: Income statement.

Step-by-step explanation:

The Income Statement is a report that measures a company's financial performance over a specific accounting period. This statement is also known as the Profit and Loss Statement and Earnings Statement. The Income Statement shows a company's revenues, expenses, net profit, and net loss from both operating and non-operating activities.