Golgappa.net | Golgappa.org | BagIndia.net | BodyIndia.Com | CabIndia.net | CarsBikes.net | CarsBikes.org | CashIndia.net | ConsumerIndia.net | CookingIndia.net | DataIndia.net | DealIndia.net | EmailIndia.net | FirstTablet.com | FirstTourist.com | ForsaleIndia.net | IndiaBody.Com | IndiaCab.net | IndiaCash.net | IndiaModel.net | KidForum.net | OfficeIndia.net | PaysIndia.com | RestaurantIndia.net | RestaurantsIndia.net | SaleForum.net | SellForum.net | SoldIndia.com | StarIndia.net | TomatoCab.com | TomatoCabs.com | TownIndia.com
Interested to Buy Any Domain ? << Click Here >> for more details...

Why is Income statement prepared?

Answer Posted / irfan khan

income statement is prepared to know the income of the
business, it is a statement which shows income form
operating and non-operating operations and to know PBIT,PBT
AND PAT

Is This Answer Correct ?    23 Yes 2 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What is double-entry accounting? Explain with an example?

1111


iv, A non -performing asset is A, Money at call and short notices b, An asset that ceases to generate income c, cash balance in till d, none of the above

2008


Purchase and sales sahres accounting entry which have stt brokerage and other taxes

4037


What Is Responsibility Accounting?

1192


Is there any circumstance where an accountant is allowed to depart from accounting standards while preparing financial statements? If yes explain why, if no explain no.

2118


on what rate depreciation will be calculated?

2200


Tell me which accounting application you prefer most and why?

966


If a transaction was missed completly how do you find it?

2089


Horizontal balance sheet versus Vertical balance sheet

2242


example wrongly financial statments showing vat refund (under Advances) for the finanical year 08-09 , but present assement year after assement by cto given vat refund more than ledger showing balance then decided to every month set off vat payable to vat refund(advance) but more than recoverd compare with company and cto then what is the entry to be take.

2203


Do you know overhead in terms of accounting?

1098


What is the tds effect in balance sheet if tds receipts?

1224


Tell me do you think there is any difference between inactive and dormant accounts?

1081


What was the most difficult deal you had to close?

1004


Can u please send me a set of accounting base questoin with answer,genraly ask by interviewer?

2099