The income statement is the financial statement that includes expenses. Balance sheet lists assets and liabilities at a point in time, while the cash flow statement tracks cash inflows and outflows.
Income statement is the financial statement that contains a line item for expenses. This statement presents an organization's revenues, expenses, and changes in net assets over a specific period.
The balance sheet, on the other hand, lists what a company owns (assets) and what it owes (liabilities) at a specific point in time.
The cash flow statement shows how cash flows in and out of the organization to carry out its operations.
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