What purpose do the income statement and balance sheet serve, and who is the target audience for these financial statements? In relation to each of these financial statements, distinguish between flows and stocks, using an example of each term.© BrainMass Inc. brainmass.com November 24, 2021, 3:53 pm ad1c9bdddf
The purpose of the income statement and balance sheet are:
1. to provide information about company's assets, liabilities and equity (Balance sheet)
2. to provide information about company's ...
The expert examines income statements and balance sheets for service.