Question

Which spreadsheet type will determine how well a business has done over the past year?

A. Balance sheet
B. Profit-and-loss statement
C. Budget
D. Invoice

Answer 1

A profit and loss statement will determine how well a business has done over the past year.The profit and loss statement is a financial statement which shows revenue, costs and all expenses that happened during a said period of time. Most companies do this quarterly or yearly.

Answer 2

B. Profit-and-loss statement

Step-by-step explanation:

The balance sheet shows the assets and liabilities of an entity but not the performance.

How well a business has done is a measure of the revenue the company makes with a consideration of the cost incurred in generating this revenue.

The net of the revenue and cost gives the income of the entity.

Such information is only available in the Profit-and-loss statement.