Consider a comparative Income Statement for a particular company, results are being presented for two consecutive years. You are reviewing these results, and you notice the following about the comparative results: The comparative revenues (all revenues) increased. The comparative expenses (all expenses) increased. The comparative Net Income decreased. What do these observations tell you about the relative change in revenues vs. expenses over the two-year period?

Consider a comparative Income Statement for a particular company, results are being presented for two consecutive years. You are reviewing these results, and you notice the following about the comparative results: The comparative revenues (all revenues) increased. The comparative expenses (all expenses) increased. The comparative Net Income decreased. What do these observations tell you about the relative change in revenues vs. expenses over the two-year period?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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