An income statement prepared for internal use would normally disclose expense and revenue items than one prepared for external use.
A) more
B) less
C) the same
D) varied

Question

Quizplus · Accepted Answer

An income statement prepared for internal use is usually more detailed and comprehensive than one prepared for external use. Internal income statements may include line items such as departmental expenses and revenues or individual project expenses and revenues, while external statements generally provide a summary of the company's overall financial performance.

An Income Statement Prepared for Internal Use Would Normally Disclose