Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 46 - No. 16)
What type of information is provided in the income statement?
Assets, liabilities, and equity.
Revenues and expenses over a period of time.
Cash inflows and outflows.
The financial position of the business at a specific point in time.
Explanation
The income statement reports a company's financial performance (revenues, expenses, and profit or loss) over a specific accounting period.
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