An income statement measures A) a company’s budget for the coming yea

QUESTION

An income statement measures

A) a company’s budget for the coming year and the resources needed to fund the projects in the budget.
B) a company’s cash flow recorded over the course of one year of selling to customers.
C) a company’s net profit by tracking the firm’s revenues and expenses during a given period.
D) a company’s debts and other liabilities incurred by its strategic plan executed over the previous year.

ANSWER

C