CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEntrepreneurial Planning3 Marks
Question
Make a proforma of Income statement.
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Answer
The typical structure of an income statement is as follows:
Revenue (Sales)
(-) Cost of goods sold
Gross profit
(-) Operating expenses
Operating profit
(-) Non-operating expensessie
(+) Non-operating income
(-) Profit before tax
(-) Income tax
Profit after tax
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