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Business Finance and Arithmetic — Entrepreneurship STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipBusiness Finance and Arithmetic1 Mark
Question
Income statement has certain distinct features. State any two.
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Answer

The two features are as follows:
  1. It records revenue income and revenue expenses of a particular period.
  2. It is based on the accrual concept.

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