Which Financial Statement Shows Whether the Business Earned a Profit

question 236

Multiple Choice

Which financial statement shows whether the business earned a profit or loss,and also lists the types and amounts of the revenues and expenses?

• A) Balance sheet.
• B) Statement of changes in equity.
• C) Statement of cash flows.
• D) Income statement.
• E) Statement of financial position.

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Definitions:

Goal Accomplishment

The achievement of pre-set objectives within a specified time frame.

Self-Efficacy Theory

A psychological theory that suggests individuals' belief in their ability to succeed affects their motivation and performance in tasks.

Social Learning Theory

A theory that proposes individuals learn behaviors, skills, and attitudes through observation of others rather than through direct experience alone.

Reinforcement Theory

A behaviorist theory suggesting that behavior is shaped by its consequences, with reinforcement used to increase desired behaviors.