National 5: Business Management: what (aside from calculating profit) is the purpose of an income statement

Question

what (aside from calculating profit) is the purpose of an income statement

Marilyn Bob-Manuel 3ekt · Accepted Answer

shows level of success in selling products/services
can be used to calculate tax to be paid to the government
shows where expenses could be reduced
aid decision making (eg. to increase selling price)

National 5: Business Management

What (aside from calculating profit) is the purpose of an income statement

Shows level of success in selling products/services can be used to calculate tax to be paid to the government shows where expenses could be reduced aid decision making (eg. to increase selling price)

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