Q161
Which of the following financial reports shows the profitability of a business?
A.
Income statement
AnswerB.
Balance sheet
C.
Cash flow statement
D.
Statement of changes in equity
Answer: Option A
Solution
Answer: Option A
Solution:
Income statement shows the profitability of a business. The income statement is the most important report for many analysts. It shows the company's operating results for an entire year.