Practical uses of an income statement include
A)determining whether you are spending more than you earn.
B)spotting problem areas of overspending.
C)determining if money is available for saving or investing.
D)knowing where your money is going.
E)all of the above

Question

Quizplus · Accepted Answer

All of the choices are practical uses of an income statement. It helps determine if one is spending more than earning, spot problem areas of overspending, determine availability of money for saving or investing, and understand where the money is going.

Practical Uses of an Income Statement Include