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The income statement will: indicate to the owner the cash position of the business be used to delermine the amount of income tax the business
The income statement will:
indicate to the owner the cash position of the business
be used to delermine the amount of income tax the business must pay
tell bankers if the business is in a good position to pay its bills.
reveal the amount of money withdrawn by the owner.
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Accounting Principles Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara A. Trenholm, Valerie A. Kinnear, Joan E. Barlow
6th Canadian Edition
1118557328, 978-1118557327
