Question

The financial statement that shows the performance of the company by subtracting expenses and costs from revenues and gains for one accounting period is the:

Answer 1

Income statement

Step-by-step explanation:

The financial statement that shows the performance of the company by subtracting expenses and costs from revenues and gains for one accounting period is the income statement.

Hope this helps!

Answer 2

Answer: Income statement

Explanation: Income statement is the financial statement that depicts the amount of profit that a company made for a year by deducting the expenses incurred from the amount of revenues generated. It is made as a T shape account and the profit is written on the bottom of the statement.

Thus, from the above we can say the right answer is income statement.