Which of the following financial reports shows the profitability of a business?
A. Income statement
B. Balance sheet
C. Cash flow statement
D. Statement of changes in equity
Answer: Option A
Solution(By Examveda Team)
Income statement shows the profitability of a business. The income statement is the most important report for many analysts. It shows the company's operating results for an entire year.This Question Belongs to Commerce >> Accounting
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
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