Difference Between Balance Sheet and Income statement

Balance Sheet and Income Statements- What is the difference?   Balance sheets and income statements are both significant instruments and records, giving an overview of a person or company’s financial condition.   The difference between the balance sheet and income statement is the duration of time for obtaining their own data. A balance sheet provides a timely picture and a summary of the state of assets, liabilities, and equities at one moment.    Normally at the end of the month. While a statement of income displays the entire income, expense, and gain and loss for a certain time.   ...Read more

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