2. An income statement is best described as: 2. (a) (a) A report that identifies a companys...

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2. An income statement is best described as: 2. (a)

(a) A report that identifies a company’s revenues (sales), expenses, and resulting profits for a given period of time.

(b) A report that shows the financial position of a company on a specific date.

(c) A report that shows the relationship between inventory on-hand and on-order.

(d) A report that identifies the number of items per level and number of tiers of product on a pallet.

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