Accounting for IGCSE & O level - Final Statements (Section 9 - No. 34)
What does an income statement show?
Revenue earned over a specific period
Expenses incurred over a specific period
The financial position of the business at a specific point in time
Whether the business made a profit or a loss
स्पष्टीकरण
An income statement shows revenue, expenses and whether a profit or loss was made.