Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 4 - No. 31)
What is the purpose of the income statement?
To show a company's assets and liabilities.
To show a company's cash inflows and outflows.
To show a company's financial performance over a period.
To show a company's equity.
Explanation
The Income Statement reports the results of a company's operations over a period of time.
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