Asked by Tristan Jansen on May 19, 2024

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Leonardo,chief financial officer for a company,wants to take a look at the summary of expenses,revenues,and profits of the firm for the most recent quarter.He can best find this information by consulting the

A) balance sheet.
B) cash flow statement.
C) statement of owners' equity.
D) income statement.

Owners' Equity

The portion of a company's assets that belongs to its owners or shareholders, representing their residual interest.

Income Statement

A financial statement that shows a company's revenues and expenses over a specified period, ultimately providing a view of the company’s profitability.

Chief Financial Officer

A high-ranking executive responsible for managing the financial actions of a company, including financial planning, record-keeping, and reporting.

  • Understand the purpose and content of key financial statements: income statement, balance sheet, cash flow statement, and statement of owners' equity.
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DB
Dickie BlondheimMay 24, 2024
Final Answer :
D
Explanation :
The income statement provides a summary of a company's revenues, expenses, and profits over a specific period of time, such as a quarter, making it the best document for Leonardo to consult for the information he seeks.