1 of 2: Match the terms related to the Income Statement with their definitions. You have 2 attempts. Income Statement Also known as the P&L Statement, contains the financial performance of a company for a specified period of time. Single Step Income Statement Multi-Step Income Statement Separates income and expense items into components to allow for profitability to be displayed at different stages. Groups income items in one section and expense items in another section. Profitability is only shown at the very end where net income is displayed. CHECK 0