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2021 POA Chapter 5: Statement of Financial Peformance > Chapter 5.2: Statement of Financial Performance of a Service Business > Flashcards

Chapter 5.2: Statement of Financial Performance of a Service Business Flashcards

1
Q

Does a service business trade in goods?

A

No.

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2
Q

Does the Statement of Financial Performance of a service business have a trading portion?

A

No. It only has the profit and loss portion.

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3
Q
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2021 POA Chapter 5: Statement of Financial Peformance (4 decks)

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