IGBizStudies

Jun 14, 20211 min

Identify the effect of an increase in the cost of materials

Updated: Jul 14, 2021

Oct/Nov 2019 Version 11


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  1. Revenue, cost and profit in income statement


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  1. What is meant by ‘income statement’? (2 marks)

  2. Calculate X and Y: Revenue & Expenses (2 marks)

  3. Identify and explain two ways in which a firm's managers could use information contained in the income statement. (4 marks)

  4. State four features of an income statement. (4 marks)

  5. Calculate the values of X and Y: Cost of Sales & Expenses (2 marks)
     


 

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