REPORTS THE COMPANY’S REVENUES AND EXPENSES DURING AN INTERVAL OF TIME

1. - SOLUTION MANUAL FOR FINANCIAL ACCOUNTING 2ND EDITION BY SPICELAND
SOLUTION MANUAL FOR FINANCIAL ACCOUNTING 2ND EDITION BY SPICELAND
1. Income statement: Reports the company’s revenues and expenses during an interval of time. Ifrevenues exceed expenses, then the company reports net income. If expenses exceed revenues,then the company reports a net loss.