Profitability ratios show the relationship between income or revenues versus investments and assets.

Profitability ratios indeed measure the relationship between income or revenues and various types of investments and assets. These ratios are critical for assessing a company’s ability to generate profit relative to its resources, including equity, assets, and sales. Common examples of profitability ratios include the net profit margin, return on assets (ROA), and return on equity (ROE).

These ratios enable stakeholders to understand how effectively a company can convert sales into profits or how well it utilizes its assets to generate earnings. Therefore, stating that profitability ratios demonstrate the connection between income or revenues and investments and assets is accurate, reinforcing the notion that these measurements are vital for evaluating a company's financial health and operational efficiency.

The other options suggest varying degrees of accuracy or situational dependency, which can lead to confusion about the essential role profitability ratios play in financial analysis.