The Three Financial Statements in Which Net Income Can Be

question 79

Short Answer

The three financial statements in which net income can be found are the ____________________, the ____________________ and the ____________________.

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Definitions:

Profit Centers

Divisions or departments within an organization that are directly responsible for generating its income.

Information

Data that has been processed or structured in a meaningful way to be useful for decision-making or analysis.

Profit Center

A division whose parent company evaluates it on the basis of the profit it earns.

Executives

Executives are high-level managers or administrators in organizations, responsible for strategizing and decision-making to drive the company towards its goals.