Accounting for IGCSE & O level - Final Statements (Section 12 - No. 3)
What is the primary purpose of presenting an income statement in a vertical format?
To calculate the total assets of the company
To easily calculate profit or loss
To show financial position
To show liabilities and owner's equity
Shpjegimi
The vertical format is a common and simple way to view and calculate a company's profit or loss.