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An income statement is a financial statement that: reports the cash flows of a firm as of a specified date. reflects the firms assets and
An income statement is a financial statement that:
| reports the cash flows of a firm as of a specified date. | ||
| reflects the firms assets and liabilities at a given point in time. | ||
| records the revenues and expenses for a firm over a period of time. | ||
| reflects the market value of a firm as of the statement date. |
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