Net income or loss may appear on the income statement of both a service business and a retail business.

Name: Net income or loss may appear on the income statement of both a service business and a retail business.
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Question

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Net income or loss is a measure of profitability which can be calculated for any type of business, including service businesses and retail businesses. Therefore, it may appear on the income statement of both types of businesses.

Net Income or Loss May Appear on the Income Statement