The key elements of the income statement are revenues and expenses. Depending on the
relationship between these, the company will report a net income or a net loss for the period. It is
important to remember that the income statement
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Note: the marked answers on grey are your own answers.
Test: (12/25) - started on 1/2/2016 23:41, finished on 2/2/2016 1:8
1.- Net income appears on which financial statement(s)?
INTRODUCTION TO FINANCIAL ACCOUNTING
Original written by professor Maite Seco Benedicto at IE Business School.
Original version, 13 September 2012.
Published by IE Business Publishing, Mara de Molina 13, 28006 Madrid, Spain.
2012 IE. Total or pa