Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 42 - No. 9)
What is the role of the income statement?
To show the financial position of a company at a specific point in time.
To show the profitability of a company over a period of time.
To report the cash inflows and outflows of a company.
To show the assets, liabilities and equity.
Explanation
The income statement shows the financial performance of a company over a period (revenues, expenses, profit or loss).
Comments (0)
