Which of the Following Financial Statements Does Not Cover a Period

question 155

Multiple Choice

Which of the following financial statements does not cover a period of time but rather reports amounts at a specific point in time?

• A) Income statement
• B) Balance sheet
• C) Statement of cash flow
• D) Statement of retained earnings

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Definitions:

Profit Centers

Parts of a company treated as standalone businesses responsible for generating their own revenues and profits.

Income Statements

A financial report that details a company's revenues, expenses, and profits over a specific period, showing how the net income is derived.

Return on Investment

A measure used to evaluate the efficiency or profitability of an investment, computed as the net profit of the investment divided by the cost of the investment.

Investment Turnover

A measure of a company's efficiency in using its assets to generate sales or revenue.