An income statement is often referred to as a:

An income statement is often referred to as a profit and loss statement because it summarizes the revenues and expenses of a business over a specific period, ultimately showing the company's net profit or loss. The term "profit and loss statement" directly reflects its purpose: to highlight the profits generated from operations minus the expenses incurred, demonstrating how effectively a company is generating profit through its core business activities.

The other terms listed do not accurately describe an income statement. The balance sheet provides a snapshot of a company’s assets, liabilities, and equity at a specific point in time, rather than its performance over time. The statement of cash flow details the cash inflows and outflows over a period, highlighting liquidity rather than profitability. The general ledger is a comprehensive set of accounts that records all financial transactions of a business and is used to prepare the financial statements but is not itself a financial statement.