The Date of the Income Statement?

Question

A.) covers a period of time, usually for an accounting period
B.) may cover a period of time or only one day in time,like a snapshot photograph
C.) is not dated
D.) Covers One Day at a time

Answer 1

The Date of the Income Statement
A.) covers a period of time, usually for an accounting period

Remember an income statement is always "for the period from (date) to (date)" or "for the year ended (date)" etc, it's never just a date. On the other hand, a balance sheet is always "as at (date)", never for a period.