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The traditional income statement organizes costs on the basis of cost behavior?
Wiki User
∙ 15y ago
The traditional income statement organizes costs on the basis of cost behavior
Wiki User
∙ 15y ago
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What was the income statement previously called?
The Income Statement is also called the P&L (Profit and Loss) Statement.
Does interest revenue go on income statement?
Yes all revenues are part of income statement and interest revenue also that’s why it is shown in income statement as other income.
Which of the following is the bottom line on the income statement?
the net income
Where does interest expense in the income statement?
Interest expense is shown at debit side of income statement because it is an expense for business.
Where does rent revenue go on an income statement?
Rent revenue appears under the Non-Operating Revenue Section on the income statement.
What approach to the income statement organizes costs by function?
traditional approach
Which income statement is classified by function and which one is classified by behavior?
The multi-step income statement is classified by function, and the single-step income statement is classified by behavior.
What is traditional approach income statement?
In traditional approach income statement, overheads are charged to product based on predetermined rate rather then based on actual activity.
How do you do Income statement?
Comparative income statement is same as normal income statement with little addition of that income statement as well from which comparison is required.
How do you prepare comparative income statement?
Comparative income statement is same as normal income statement with little addition of that income statement as well from which comparison is required.
What are the two categories of the income statement?
Following are two catagories of income statement: 1- Single Step Income statement 2- Multy-step income statement
Is income statement same as financial statement?
no. income statement is a only a statement in financial statements.
What is a projected income statement?
projected income statement is the estimated income statement to estimate the future business position.
Does fees earned go on an income statement?
income statement
Which financial statement summarises income and expenditure?
income statement
What are the Types of income statement?
1. Single step income statement 2 – Multi-step income statement
Consolidated income statement?
Consolidated income statement is that statement in which expenses and incomes of subsidiary as well as parents companies shown as a joint in one single income statement.
