Multi-Step Income Payment

The first statement of the financial package is the income statement. It is also known as the profit and loss (or P&L) statement. It is a financial representation of the revenue and expenses of the firm and whether it has generated a profit. Watch this video that describes the multi-step income statement.

Source: Dave Alldredge, https://www.youtube.com/watch?v=xJbL2as-XeE
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Last modified: Monday, June 27, 2022, 1:47 PM