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Unit 5.3: Revision questions on income statements

Q1Fill in the gapsBusinesses keep financial records in order to keep track of their financial position, such as to see whether they have made a profit or ______________ over a specific period of time. _____________ has to be paid to the Government on any _______________ a business had made, so it is vital that financial records are ______________. In order to determine how much profit or loss has been made, a business...

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