What financial document summarizes a company's revenues and expenses over a specific period?

The Income Statement is a financial document that provides a summary of a company's revenues and expenses over a specific period, typically quarterly or annually. It is crucial for understanding a company's profitability during that timeframe. The income statement calculates net income by subtracting total expenses from total revenues, thus offering insight into how much money the company made or lost. This document helps stakeholders, including investors and management, assess operational efficiency and financial performance.

In contrast, the Balance Sheet provides a snapshot of a company's financial position at a single point in time, showcasing assets, liabilities, and equity. The Cash Flow Statement focuses on the actual cash inflows and outflows over a period rather than merely accounting for revenues and expenses. A Financial Report is a broader term that may encompass various financial statements, including the income statement, but it doesn't specifically refer to the document summarizing revenues and expenses. Therefore, the Income Statement is the correct choice for summarizing a company’s financial performance over a specific period.