The income statement is a summary of revenues and expenses and gains and losses,ending with net income,for a particular period of time.

Name: The income statement is a summary of revenues and expenses and gains and losses,ending with net income,for a particular period of time.
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Quizplus · Accepted Answer

The income statement is indeed a summary of revenues and expenses and gains and losses, ending with net income, for a specific time period such as a month or a year.

The Income Statement Is a Summary of Revenues and Expenses