Is an income statement the sme as a profit & loss statement?

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Is an income statement the sme as a profit & loss statement?

2007-03-02 01:29:13 · 2 answers · asked by eileenheim 1 in Business & Finance ➔ Other - Business & Finance

2 answers

Income Statement = US
Profit and Loss = elsewhere
Statement of Activities and Changes in Net Assets= nonprofits

(yes)

2007-03-02 01:32:28 · answer #1 · answered by Vegan 7 · 0⤊ 0⤋

Income is about everything a businerss took in. Profit and loss is about what a business earned after expenses and equipment depreciation and so on is taken into consideration.

2007-03-02 09:51:05 · answer #2 · answered by Nash 6 · 0⤊ 0⤋