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Exam SPHR topic 5 question 15 discussion

Actual exam question from HRCI's SPHR
Question #: 15
Topic #: 5
[All SPHR Questions]

Which of the following is another term for a profit and loss statement?

  • A. Income statement
  • B. Fiscal year summary
  • C. Balance sheet
  • D. Statement of cash flow
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Suggested Answer: A 🗳️
Answer option A is correct.
An income statement, also referred to as a profit and loss statement, provides financial information about revenue and expenses in a set reporting period. The statement of cash flow (D) communicates the ways in which monies came in and out of the organization, and the balance sheet (C) is a thumbnail sketch of assets, liabilities, and equity at a certain time.
Chapter: Core Knowledge Requirements for HR Professionals
Objective: Review Questions
by pekata at April 5, 2025, 8:10 p.m.

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