Which of the Following Statements About an Income Statement Is

question 40

Multiple Choice

Which of the following statements about an income statement is true?

• A) An income statement provides information on an organisation's profitability at a certain point in time.
• B) An income statement matches revenues earned during a period,against expenses incurred in earning the revenues.
• C) The expenses may include depreciation.
• D) For revenue to be included,it is not necessary for cash to have been received.

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Definitions:

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