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

GOODS LOST BY FIRE 100 RS, INSURANCE MONY RECEIVED 120,40 PENDING FOR FINAL SETTLEMENT- Journal Entry

1781


what is the relationship between cost accounting financial accounting and managerial accounting?

614


total assets are equal to total liabilities in final accounts ?why?

1427


What is executive accounting?

705


Hi, Mobile manufacturing given a mobile phone as a gift to their employee. What journal entry we need to pass in company point of view.

493






Describe me accounting rules

1507


What is the difference in accounting and marketing?

622


Explain what qualities and skills make an account manager successful?

641


How to pass an general entry for materials which are stored in warehouses??????

1832


Tell me what is project implementation?

591


How is an accounting department structured?

647


What are the different types of gst?

627


all GL Related Interview questions with answear

2365


what is a state cheque? how it differes from stale cheque?

1879


what is addition of Opening Balance and net profit transfered from profit and loss account called

1524