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The Income Statement is also called the P&L (Profit and Loss) Statement.

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13y ago

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What is a mathematical statement that can be shown to be true using previously proven statements?

Such a statement is called a theorem.true


Can Net income on an income statement be negative?

Yes net income on income statement can be negative and that amount is called net loss for that specific period or fiscal year.


Is revenue part of an income statement?

Yes revenues and expenses are part of income statement and difference between revenue and expenses is called net income or loss.


What is the income you earn from the shares dividend?

Income earned from shares is called dividend income and shown in income statement as "Other income".


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.


What is a financial statement that summariezes the revenues and expenses for a specific period of time called?

An income statement is the summary of a business's income and expenses during the past year. Income statements are used to determine how well a business is performing financially.


What is the new name for profit and loss account?

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What is it called when your expenses are greater than your revenues on an income statement?

loss


What is it called when your expenses are greater than your revenue on an income statement?

loss


How do you prepare comparative income statement?

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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?

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