what is an income statement??


2 Answer(s)


income statement consist of income , saving ,expenses, loans .

Income Statement
1:Provides a summary of the revenues, costs and expenses of an entity during an accounting period.
2:An Income Statement is generally used to calculate the Net Profit After Tax (NPAT) of an entity.
3:Also referred to as a „Statement of Financial Performance‟ or a „Profit & Loss Statement‟.