Income statement question

Accounting
Tutor: None Selected Time limit: 1 Day

Which statement is true-

1 income stmt indicates the liquidity of the company on annual basis

2 income stmt shows how much profit company has earned since it began operations

3 income stmt summarizes results of operations for period of time

4 net income on income stmt should be equal to amount of cash on balance sheet

** i think it is 3

Sep 10th, 2015

Thank you for the opportunity to help you with your question!

You are right  its option 3   --------------------------------------------------------

Please let me know if you need any clarification. I'm always happy to answer your questions.
Sep 10th, 2015

thank you very much for the quick response!

Sep 10th, 2015

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Sep 10th, 2015
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