Last Updated
：2025/11/25
income statement
（ plural ）
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(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.
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income statement
The auditor reviewed the income statement to verify that the company's reported profit and loss for the quarter was calculated correctly from gross revenues and expenses.
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The auditor reviewed the income statement to verify that the company's reported profit and loss for the quarter was calculated correctly from gross revenues and expenses.
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