E32 Explain why the income statement can also be called a profit-and-loss statement. What exactly does the

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E3–2 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: 9780133546408

7th Edition

Authors: Lawrence J Gitman, Chad J Zutter

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E32 Explain why the income statement can also be called a profit-and-loss statement. What exactly does the

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Principles Of Managerial Finance

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