The traditional income statement format used for financial reporting is called the contribution margin format.

Name: The traditional income statement format used for financial reporting is called the contribution margin format.
Brand: Quizplus
Rating: 4.7 (33 reviews)

Question

Quizplus · Accepted Answer

The traditional income statement format used for financial reporting is the functional format. The contribution margin format is used for internal reporting purposes to analyze the profitability of individual products or services.

The Traditional Income Statement Format Used for Financial Reporting Is