Accounting for IGCSE & O level - Advanced Principles (Section 7 - No. 48)
What is the main purpose of a company's income statement?
To present a company's financial position at a point in time.
To show how a company's assets are financed.
To show a company's revenues, expenses, and profit or loss over a period.
To show the cash inflows and outflows of a company.
Explanation
The income statement provides information on profitability over time.
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