Getting to the Bottom Line

"Bottom line" means net income.

• True

• False

Operating margin minus taxes is gross margin.

• True

• False

P & L statements show information from a period of time.

• False

• True

A statement showing financial information for a certain period.

• P & L

• Gross margin

• Taxes

The costs associated with organizing and running a businness.

• Gross margin

• General and administrative expenses

• Taxes

Money that is paid to a government.

• Taxes

• Sales revenue

• General and administrative expenses

The money that is recived from selling goods or services.

• Taxes

• Sales revenue

• General and administrative expenses

_______ is the act of exchanging goods for money.

___ ______ is the amount of money retained after all expenses

A(n) ______ _________ is a document showing how much money was made.