Financial Statements and Ratios

Front

An Income Statement is also known as a:

Back

Profit and Loss Statement

Front

An Income Statement shows a company's: Net Income, Revenue, Expenditures

Back

All answers are correct

Front

Income Statements answer the simple question: Is the company making a profit?

Back

Is the company making a profit?

Front

"Revenue" is defined as:

Back

The amount of money a company takes in over a set amount of time

Front

"Cost of Goods Sold (COGS)" is defined as:

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The total cost to a business to manufacture and sell a specific product or service

Front

Operating Expenses include: Rent on office space, Office Supplies, Salaries and Wages

Back

All answers are correct

Front

Depreciation is:

Back

The loss of value of an asset over time

Front

“NET INCOME also known as NET PROFIT” is:

Back

Profit left over after all the expenses have been deducted from your total revenue

Front

“Gross Profit Margin” calculates:

Back

The PERCENTAGE of profit a company makes on its goods and services

Front

A balance sheet reports:

Back

a company's assets on one side, and liabilities, and shareholder equity on the other