What is the most suitable date description for a profit and loss statement?

The most suitable date description for a profit and loss statement is one that reflects the period over which revenues and expenses are summarized, thereby indicating performance over a defined timeframe. Therefore, stating "For the Quarter Ended June 30, 20XX" effectively communicates that the information provided in the profit and loss statement pertains specifically to the operations during that quarter, concluding on June 30.

Profit and loss statements, which may also be referred to as income statements, typically provide a summary of revenues and expenses over a particular period, and thus, the phrasing that includes "For the Quarter Ended" accurately identifies the timeframe. This is essential for stakeholders to understand the results that occurred over that specific duration rather than suggesting a point in time, which would be more suitable for balance sheets.

In contrast, descriptions like "As of June 30, 20XX" or simply "June 30, 20XX" imply a snapshot or single point in time, which does not align with the nature of profit and loss statements that report on performance over a span of time. Therefore, these options do not effectively communicate the continuous aspect of the performance being reported, emphasizing why the second option is the most appropriate choice for a profit and loss statement.