INCOME STATEMENT is a business financial statement used primarily to look at how a company has been doing over time and predict how it might do in the near future.
The balance sheet and the statement of cash flow are two of the other three significant financial statements for businesses.
The income statement, also commonly known as the P&L or profit-and-loss statement, displays the revenues and expenses incurred by a company over a specific period.
It basically comprises readings on a firm's operations, potential profit leaks, and whether the organization is functioning in the market or in line with its competitors.
Knowing how to read and analyze income statement is actually the best way to evaluate an enterprise and choose whether or not to invest.
Learn more about the fairness of the presentation of the financial statements here: https://brainly.com/question/28170712
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