Income Statement

Profit is the reward for___

The bank manager, business ___ and managers are the main users of the income statement

Which one of the following appears on an income statements?

Revenue is $5000 and gross profit $1500, the cost of sales is ___

Profit is $10000, cost of sales is $4000, expenses is $4000 and revenue is ___

Gross profit is higher than profit

Revenue minus expenses equals gross profit

Depreciation is not included on the income statement

Retained profit for a company is what is left from profit after tax and dividends have been deducted

Income statements are often used by managers when making decisions