It is a statement which shows the comparison of the total income earned and expenses incurred during two or more accounting periods.

Comparative income statement

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Comparative balance sheet

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Cash flow statement

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All of these

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Solution

The correct option is A
Comparative income statement

Comparative statement of profit and loss is a statement which shows the comparison of the total income earned and expenses incurred during two or more accounting periods.

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Q. statement of profit and loss shows the comparison of the total income earned and expenses incurred during two or more accounting periods.

Q. Prepare Comparative Income Statements from the following

$\begin{matrix} P a r t i c u l a r s & 31 - 3 - 2011 & 31 - 3 - 2012 Revenue from Operations & 10,00,000 & 15,00,000 Expenses & 6,00,000 & 10,50,000 Other Income & 2,00,000 & 1,80,000 Income Tax & 50 % & 50 % \end{matrix}$

What is the importance of comparative statements? Illustrate your answer with particular reference to comparative income statement.

Q. A) Funds flow statement and cash flow statement are one and the same.
B) A cash flow statement can very well be equated with an 'Income statement'.
Of these statements :-

Roshan,a Chartered Accountant earned Rs.12,00,000 during the financial year 2015-2016,out of which he received Rs.10,50,000.He incurred expenses of Rs.5,10,000,out of which Rs.1,20,000 are outstanding.He also received his fees relating to previous year Rs.1,35,000 and also paid Rs.60,000 due on expenses of last year.Find out Roshan's income for 2015-2016 following the cash basis and accrual basis of accounting.

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It is a statement which shows the comparison of the total income earned and expenses incurred during two or more accounting periods.

The correct option is A Comparative income statement Comparative statement of profit and loss is a statement which shows the comparison of the total income earned and expenses incurred during two or more accounting periods.

The correct option is A
Comparative income statement

Comparative statement of profit and loss is a statement which shows the comparison of the total income earned and expenses incurred during two or more accounting periods.