23.03.2023 - 11:40

1. Identify the two basic categories of items on an income statement 2.What do we call the bottom line of the income statement?

Question:

1. Identify the two basic categories of items on an income statement

2.What do we call the bottom line of the income statement?

Answers (1)
  • FUCKTYRNYI
    April 9, 2023 в 16:01
    1. The two basic categories of items on an income statement are revenues and expenses. Revenues refer to the income generated by a business through the sale of goods or services, while expenses are the costs incurred in the process of generating those revenues.

    2. The bottom line of the income statement is called net income, which represents the profit or loss of a business after all revenues and expenses have been accounted for. It is calculated by subtracting total expenses from total revenues. Net income is an important metric for evaluating the financial performance of a business, as it provides an indication of the company's profitability. A positive net income indicates that the business is generating more revenue than expenses, while a negative net income indicates that the business is incurring more expenses than revenue.

Do you know the answer?
Not sure about the answer?
Find the right answer to the question 1. Identify the two basic categories of items on an income statement 2.What do we call the bottom line of the income statement? by subject Finance, and if there is no answer or no one has given the right answer, then use the search and try to find the answer among similar questions.
Search for other answers
New questions in the category: Finance
Authorization
*
*

Password generation