Answered

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What is the primary purpose of the income statement?
A) To report the company's cash flow activities
B) To show the company's financial position
C) To show the company's profitability
D) To report changes in equity

Sagot :

Answer:      C) To show the company's profitability

Explanation:

The income statement shows a company's revenues, expenses, and net income (or loss) over a specific period.

It's like a report card for the company's financial performance.

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