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(a) ABC Company Income statement as on31st march2012 (b) ABC Company Income statement for the year ended31st march2012 (c) ABC Company Income statement,31st march2012 (d) All above headings are wrong
Income statement for the year ended March31,2012 and Balance Sheet as on March31,2012 is correct, because Balance items are accumulating every year, hence they will be shown as on date from the date of beginning and income statement reflects only the transactions during the year
(b) ABC Company Income statement for the year ended31st march2012
This heading is correct.
B. Income statement for the year ended Marach31,2012. Reason being, Income statement is for a particular period/year as against Balance Sheet which is as of particular date say end of month.
The correct answer is B (b) ABC Company Income statement for the year ended31st march2012
B is correct. Since income statements are prepared for a particular period (daily/weekly/monthly/quarterly/yearly/any other specified period)
B is correct
If you are following IFRS , then the wording will be like this
Statement of Comprehesive Income for the year ended [ DATE ]
