Terms found in financial statements
Which financial term from the text corresponds to the following definitions?
Statement of earnings
1. money received, generally from sales -
assets
cash equivalents
costs and expenses
currency
deposits
gross profit
liabilities
net earnings
revenue
[?]
2. money that is spent on such things as salaries, rent, office supplies, advertising and taxes -
assets
cash equivalents
costs and expenses
currency
deposits
gross profit
liabilities
net earnings
revenue
[?]
Statement of cash flows
3. money in general use as cash, such as coins or bank notes -
assets
cash equivalents
costs and expenses
currency
deposits
gross profit
liabilities
net earnings
revenue
[?]
4. money or its equivalent paid into an organisation for safe keeping, or as security, or to bear interest -
assets
cash equivalents
costs and expenses
currency
deposits
gross profit
liabilities
net earnings
revenue
[?]
5. money that has been invested but that can be rapidly changed into cash -
assets
cash equivalents
costs and expenses
currency
deposits
gross profit
liabilities
net earnings
revenue
[?]
Statement of financial position
6. anything with money value that a company owns -
assets
cash equivalents
costs and expenses
currency
deposits
gross profit
liabilities
net earnings
revenue
[?]
7. a company's debts -
assets
cash equivalents
costs and expenses
currency
deposits
gross profit
liabilities
net earnings
revenue
[?]
Selected financial data
8. the difference between a company's total sales and cost of sales -
assets
cash equivalents
costs and expenses
currency
deposits
gross profit
liabilities
net earnings
revenue
[?]
9. a company's total revenue minus total expenses, also known as "the bottom line" -
assets
cash equivalents
costs and expenses
currency
deposits
gross profit
liabilities
net earnings
revenue
[?]
or net income
Check
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