5.3 Income Statements

Unsurprisingly as profit or “the bottom line” is the ultimate objective of nearly all business activity, questions on calculating profit or evaluating the profitability of different business decisions are hugely popular questions in both Paper 1 and Paper 2.

But let’s start by answering the simple questions: what is profit and why is it so important?

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Free Samples

Check out Unit 1 Business Activity, Topic Guides, Questions and Solutions