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Zigmanuir [339]
3 years ago
5

The income statement lists all the

Business
1 answer:
olchik [2.2K]3 years ago
6 0

Answer:

A. revenue and expense

Explanation:

An income statement is among the three important financial statements prepared by a business entity. It summarizes all incomes (revenues) and expenses (costs) of a company in a particular financial year. Total costs are subtracted from the total revenue to get the net income.

An income statement is prepared to show the profits of a business in a particular financial year. A positive net income indicates profits, while a negative net income denotes losses.

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