A public university has given the order for supplies on 10 January 2020 for the cost of RO 25,500 and recorded the encumbrance in the general fund account. Which one of the following will be the effect of the issue of a supplies purchase order?

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Income Statement

Income Statement also commonly called a profit and loss statement, one of the key financial statements (considered together with balance sheet and cash flow statement) which shows the revenues and expenses, as well as the gains and losses of a company for a given period. In other words, it presents the financial performance/profitability of a business over a specified accounting period.