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Food Service Manager Exam Prep

Category - Management

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Profit and loss statements:

Break down labor, equipment, and operational costs
List current assets and liabilities
Provide records of revenue and expenses for a specific time period
Are needed only to prepare income tax returns

Explanation

Answer: C - Profit and loss statements provide records of revenue and expenses during a specific time period. Its primary purpose is to show whether money was made during the time period in question.

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