Income Statement and Accounting Concepts

Front

Which type of accounting focuses on reporting information for external users?

Back

Financial Accounting

Front

Which type of accounting focuses on reporting information for internal users? Options: Financial Accounting, Cost Accounting, Managerial Accounting

Back

Managerial Accounting

Front

To calculate the net income, you would

Back

Revenue - Expenses

Front

The ratio of net income to total sales is known as

Back

Return on sales

Front

When you have more expenses than revenue, you have a

Back

net loss