Procter & Gamble just released its latest income statement. What is the statement most likely to be used for?
A) determining what P&G is worth
B) determining whether P&G is profitable
C) determining P&G's tax liability
D) determining P&G's owners' equity
E) determining whether P&G should sell assets
Answer: B
Explanation: B) The income statement compares sales and expenses for a particular time to tell whether the firm has been profitable.
You might also like to view...
Global companies entering new markets will need to adapt their offerings, distribution systems, and operations to local demand and custom
Indicate whether the statement is true or false
The concept of organization includes how a company does all of the following EXCEPT ________
A) specifies the framework for work B) develops systems that coordinate and control tasks C) cultivates a common workplace culture among employees D) plans leadership and training programs to develop the managerial staff