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Question
Give one word/term/ phrase for the following statement
The statement showing profitability of two different period and its percentage change.
One Line Answer
One Word/Term Answer
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Solution
Comparative income statement
Explanation: A statement that compares financial data of different years is known as comparative income statement. Generally, the current year figures are compared with the previous year figures. Basically, it shows how the revenue and expenses have increased in relation to the previous year or year of comparison.
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