The income statement of a company that provides a service only will contain gross margin.

Name: The income statement of a company that provides a service only will contain gross margin.
Brand: Quizplus
Rating: 4.7 (36 reviews)

Question

Quizplus · Accepted Answer

The income statement of a service company will typically include operating expenses, such as salaries, rent, and utilities, which will impact the net income. Therefore, the income statement of a service company will contain both gross margin and net income.

The Income Statement of a Company That Provides a Service