Explain why the income statement can also be called a profit-and-loss statement. What exactly does the word

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Explain why the income statement can also be called a “profit-and-loss statement.” What exactly does the word balance mean in the title of the balance sheet? Why do we balance the two halves?

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Principles Of Managerial Finance

ISBN: 978-0136119463

13th Edition

Authors: Lawrence J. Gitman, Chad J. Zutter

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Question Posted: Mar 05, 2012 04:46 AM

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Explain why the income statement can also be called a profit-and-loss statement. What exactly does the word

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Principles Of Managerial Finance

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