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The purpose of the income statement is to present information about the revenues, expenses, and the net income of the entity for a specified period of time False or true?
100% True
True
True , Income statement Shows the results of the entity's operations and financial activities for the reporting period.
Its TRUE.
True
I With The Answer Ms Dianne
True. You have black and white.
True. It is a statement of financial activities of an organisation that summarizes the respective income and expenditures.
100 % True (no doubt) >.....
Agree with all the above and no accountant can say other that even he / she is still study and not work yet as we all take that defination in our faculty , but i want to add more comment by we get form income statement (( The Gain or Loss of the company )) and its also called P & L , finally its the matter of not making Income Statement but its matter of knowing the know how of analysis the items in it and know when you look in it the extra value for any number or where is the Booming in any of its item.
