Income Statements are used for which of the following? 

A. Predict firm profitability

B. Analyze consumer behavior

C. Calculate the Revenue to Expense ratio

D. All of the Above

Which of the following is the purpose of Closing Entries?

A. Determine total revenue

B. Determine firm profitability

C. Determine total costs

D. Determine total sales

The Income Statement determines the ______ of the firm.

A. value

B. profitability

C. worth

D. ownership

The Income Statement determines the _______ of the firm.

A. value

B. profitability

C. worth

D. ownership