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Income Statements
Terminology
No $ Gain
100
A form of business organization recognized by law as a separate legal entity having all the rights of an individual is called what?
corporation (11)
100
Investor's responsibility for the debts of a business which is limited by the size of his or her investment in the business.
Limited liability (9)
100
When a company subtracts expenses from receipts they find their what?
profit / net income (4)
100
Payment to a stockholder representing a portion of the corporate earnings.
dividend (4)
100
Organization that operates in a businesslike way to promote the collective interests of its members rather than to seek profit for its owners.
nonprofit organization (6)
200
Corporation that has manufacturing or service operations in a number of countries?
multinational (5)
200
business that is jointly owned by two or more persons?
partnership (28)
200
Which expense category shown at the top of the income statement represents a non-cash charge?
depreciation (27)
200
This government agency regulates the sale of stock in a corporation?
Securities and Exchange Commission (27)
200
What nonprofit organization promotes the welfare of its members and the community?
Chamber of Commerce (20)
300
Court-granted permission to an individual or business to cease or delay paying debts.
bankruptcy (7)
300
Business owned and run by one person?
sole proprietorship (10)
300
What money can be reinvested in the company?
cash flow (18)
300
Ownership certificates in a firm.
stock (18)
300
A voluntary association that buys bulk amounts of goods on behalf of its members.
consumer cooperative (16)
400
What type of stock gives it's owner "ownership shares in a corporation"?
common & preferred (25)
400
Which business organizations have "unlimited liability"?
sole proprietorships and parnerships (12)
400
This is sometimes called "the bottom line," is the sum of net income and non-cash charges such as depreciation?
cash flow (22)
400
money that is borrowed is called what?
principal (24)
400
An organization of workers formed to represent its members' interests in various employment matters.
labor union (29)
500
Which type of stock do "stockholders receive voting rights"?
Common (23)
500
A disadvantage of this business organization is conflict?
partnership (2)
500
Price paid for the use of another's money?
interest (26)
500
Non-cash charge a firm takes for the general wear and tear on its capital goods?
depreciation (1)
500
Negotiation by a labor union with management over issues such as pay, working hours and vacation.
collective bargaining (30)