Accounting Review p2

Front

What is the top line of the Income Statement?

Back

Revenue

Front

What is the bottom line Income Statement?

Back

Net income or profit

Front

Which of the following is an operating expense? Equipment, Rent, Depreciation expense, Amortization Expense

Back

Rent

Front

Revenue - Direct Costs/COGS = ?

Back

Gross Profit

Front

Gross Profit - Indirect Costs =

Back

EBITDA

Front

What does EBITDA stand for?

Back

Earnings Before Interest, Taxes, Depreciation, and Amortization

Front

Earnings before taxes - Taxes =

Back

Earnings after taxes

Front

What does EBT stand for?

Back

Earnings Before Taxes

Front

What is an asset?

Back

An asset is a resource with economic value owned by an individual or entity.

Front

What is a liability?

Back

A liability is a financial obligation or debt.