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Income statement
Meaning
Noun
●
In Accounting:
A
calculation
which shows the
profit
or
loss
of an
accounting
unit
(company,
municipality
,
foundation
etc.) during a specific
period of time
,
providing
a
summary
of how the
profit
or
loss
is
calculated
from
gross
revenue
and expenses.
Sourced from
Wiktionary
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