Final answer:
The income statement, known as the statement of operations, shows an organization's financial performance over a specific time period.
Explanation:
The income statement is also known as the statement of operations. It presents an organization's revenues, expenses, and changes in net assets over a specific time period. The income statement is essential for assessing if an organization's programs and services cover their costs, indicating its profitability.
Learn more about Income statement here:
https://brainly.com/question/33690617
