Income Statement is also known as a. Profit and Loss Account b. Cash Flow Statement c. Statement of Financial Position d. Statement of Owners Equity Question 26 Not yet answered Marked out of 1 P Flag question Journal Entries made at the end of an accounting period to adjust the account to accurately reflect the revenue and expenses of the current period in the financial statements can be termed as a. Rectification Entries b. Adjusting Entries c. None of these d. Opening Entries