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3 Cards in this Set
- Front
- Back
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What does the income statement do |
- lets business know if a profit or loss was made in a particular period - shows HOW this profit/loss was made - shows revenue made from sales BEFORE nah deductions Shows costs of any goods sold etc - salaries, materials, rent, depreciation |
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Gross profit is? |
Revenue - cost of sales |
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What happens to net profit for period |
Given to shareholders as dividends Reinvested into company |
