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which of the following statements do accountants prepare to monitor the business's profitablity?
Statement of financial position
Statement of changes in owner's equity
Statement of comprehensive Income
statement of cash flows
which is the most commonly used by merchandising business because it contains a detailed report of the company's revenues and expenses?
Account form
multi step approach
report form
single step approach
which of the following is an example of a non operating expense?
Interest payments
delivery of merchandise
rent and insurance premiums
advertising costs
suppose the company gains an amount of ₱63,000 and incurs an expense amounting to ₱32,000, which of the following statements is true?
the company gained a profit of ₱31,000
the company incurred a loss of ₱35,000
the company incurred a loss of ₱31,000
the company gained a profit of ₱35,000
which of the following statements is not true about the multi step approach
the multi step approach is deal for merchandising businesses that maintain inventories
the multi steps approach presents expenses into two subcategories operating and non operating
the multi step approach deducts the Total expenses from the Total sales revenue to obtain the net income/loss
DEF merchandising reported the following expense for January 2020x
basta pag mah DEF ang answer 👇👇
₱17,000
pag naay HAPPY CO.and answer
₱30,000
pag XYZ CO.
₱32,000
JJK tutorial services
service revenue and salaries expense