Which one of the following statements best describes the usefulness of the income statement account of a company:
A. To evaluate the return on capital employed
B. To assess its potential profitability for the coming year
C. To evaluate its profitability over the past year
D. To assess management performance over the past year
Answer:C
Which one of the following statements best describes the usefulness of the income statement account of a company:
A. To evaluate the return on capital employed B. To assess its potential profitability for the coming year C. To evaluate its profitability over the past year D. To assess management performance over the past year