Income Statement Unit 1

An income statement considers:

• Income

• expenses

• assets

• liability

Expenses of a company are:

• cost of good sold

• income

• balance sheet

• income statement

A balance sheet reports:

• assets

• business

• strengths - weaknesses

• assets - liabilities

Amount of money that you earn each month or year from your job.

• Salary

• equity

Tags

CCSS.6.EE.B.6

An amount of money that a person, business, or country borrows, especially from a bank

Tags

CCSS.RF.3.3B

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.4.3A

CCSS.RF.5.3A

if the cost of  goods sold (machinery, raw material, personnel salary, etc.) are bigger than the incomes...

Name two possible liabilities in a company

In a company, assets is/are:

A: Machinery:

B: loan

C: clients debts

D: Raw materials

• A

• B, D

• A, C, D

• A, B, C, D