The Financial Statement That Reports Whether the Business Earned a Profit

question 171

Multiple Choice

The financial statement that reports whether the business earned a profit and also lists the revenues and expenses is called the:

• A)Balance sheet.
• B)Statement of retained earnings.
• C)Statement of cash flows.
• D)Income statement.
• E)Statement of financial position.

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Definitions:

Substance Use Disorder

A medical condition characterized by an uncontrollable use of substances despite harmful consequences to one's health, relationships, and responsibilities.

Psychiatric Distress

A state of emotional suffering often associated with mental health disorders, which can include symptoms like anxiety, depression, and stress.

REBT

Rational Emotive Behavior Therapy is a psychotherapeutic approach designed to assist people in recognizing and changing their irrational beliefs to more logical and reasonable ones.

Discomfort Anxiety

Anxiety or unease stemming from anticipation of discomfort in either physical, emotional, or social situations.