what is the diffrent between income statement and
balancesheet

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what is the diffrent between income statement and balancesheet..

Answer / venu

INCOME STATEMENT SHOWS THE NET INCOME OR NET LOSS OF THE
BUSINESS, WHERE AS BALANCE SHEET SHOWS THE FINANCIAL
POSITION OF THE COMPANY.

Is This Answer Correct ?    24 Yes 0 No

what is the diffrent between income statement and balancesheet..

Answer / satyaki_raju@yahoo.com

Income statement help us to know the net result of the
business.
Balance sheet help us to know the fiancial position of
business at agiven period

Is This Answer Correct ?    6 Yes 0 No

what is the diffrent between income statement and balancesheet..

Answer / sreelakshmi

income statement if, an exact form of a profit and loss
account of any concern and normally non-profit making
concerns adopt this format to know their surplus or deficit
for the financial year
whereas, a balance sheet is a final statement which shows
the financial position of the concern revealing its assets
and liabilities along with the profits or loss for the
relevant financial year

Is This Answer Correct ?    1 Yes 0 No

what is the diffrent between income statement and balancesheet..

Answer / mani shankar

INCOME STATEMENT IS A STATEMENT IN WHICH NET INCOME OR NET LOSS OF THE BUSINESS ARE BEING SHOWN, WHERE AS BALANCE SHEET INDICATES THE FINANCIAL
POSITION OF THE COMPANY.

Is This Answer Correct ?    0 Yes 0 No

what is the diffrent between income statement and balancesheet..

Answer / krishna

Income Statement states the Profit/Loss of the company for
a particular period. Balance Sheet shows the financial
position of the company as on a particular date. The
balances of the Income Statement lines will not be carried
forward to next year. But the Assets and Liabilities
balances in the accounts will be carried forward to the
next year.

Is This Answer Correct ?    0 Yes 0 No

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