Accountıng I Deneme Sınavı Sorusu #1313740
What items appear on the income statement?
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The income statementshows us sales revenue, cost of goods sold,total or specific general expenses , depreciation expense, ınterest expense, tax expense. |
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The income statement shows us only sales of company. |
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The income statement shows us only taxes expense of company. |
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The income statement reports each asset, liability and owner’s equity in specific sections. |
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The income statement is the measure of how quickly and easily an account can be converted into cash. |
Income Statement shows the profit or loss of the company. So, how does profit or loss occur?
The positive difference between revenues and expenses give profit whereas the negative difference gives the loss. So, in the income statement company reports revenues, expenses
and their differences.
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