Mention the four sections of the income statement.
What is the Heading, Revenue Section, COGS, and Expense sections?
100
The financial statements should provide information about a business's financial condition, changes in this financial condition, and the progress of operations.
What is adequate disclosure?
100
Component Percentage.
What is a percentage relationship between one financial statement and the total that includes that item?
100
A value assigned to a share of stock and printed on the stock certificate.
What is Par Value?
100
The assets, liabilities, and stockholder's equity on a specific date.
What is does a balance sheet report?
200
Give the accounts that makeup the Net Sales.
What is Sales - Sales Discount - sales Returns & Allow.?
200
Financial information must be reported the same way from one fiscal period to to the next.
What is Consistent Reporting?
200
A comparison between two items of financial information.
What is a financial ratio?
200
Net income that is distributed.
What are Dividends?
200
Cash and other assets expected to be exchanged for cash or consumed within a year.
What is Current Assets?
300
The original price of all merchandise sold during a fiscal period.
What is Cost of Merchandise Sold or Historical Cost?
300
This statement reports the business's financial progress.
What is the Income Statement?
300
Net Income after Federal Income Tax / # of Shares Outstanding
What is Earnings Per Share (EPS)?
300
Increases a corporation's total capital.
What is Net Income?
300
Office equipment is an example of this type of asset.
What is Plant Asset?
400
This allows someone to find the Gross Profit on Sales.
What is Net Sales - COGS?
400
This statement shows the company's financial strength.
What is the Balance Sheet?
400
Market Price per Share / Earnings Per Share
What is the Price-Earnings Ratio?
400
Retained Earnings.
What is income that is retained by a corporation?
400
Accounts Receivable - Allowance for Uncollectible Accounts is an example of this.
What is an example of a Contra Account?
500
Net Income before Federal Income Tax is found using this formula.
What is Gross Profit on Sales - Total Expenses? or
What is Net Sales - COGS - Total Expenses?
500
This statement shows changes in a corporation's ownership for a fiscal period.
What is the Statement of Stockholder's Equity?
500
Helps manages make sound decisions.
What is Acceptable Component Percentages?
What is analyzing the Income Statement?
500
These two sections makeup the Statement of Stockholder's Equity.
What is Capital Stock and Retained Earnings?
500
The Statement of Stockholder's equity gives this information for the balance sheet.