First one the answer the simple accounting questions below get the points?
First one the answer the simple accounting questions below get the points?
Identify the tow basic categories of items on an income statement
What do you call the bottom line of the income statement?
oops sorry i meant two*
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idyllic: The income statement summarizes a company's revenues (sales) and expenses quarterly and annually for its fiscal year. The bottom line is often used as a reference to Net Income. So, basically, the categories are: Revenues - Expenses = Net Income Multi: Net Sales Less: COGS = Gross Income Less: SG&A = Operating Income Less: Other Income & Expenses = Pretax Income Less: Taxes = Net Income (after taxes)
2010-09-19 17:17:07
idyllic: The income statement summarizes a company's revenues (sales) and expenses quarterly and annually for its fiscal year. The bottom line is often used as a reference to Net Income. So, basically, the categories are: Revenues - Expenses = Net Income Multi: Net Sales Less: COGS = Gross Income Less: SG&A = Operating Income Less: Other Income & Expenses = Pretax Income Less: Taxes = Net Income (after taxes)
2010-09-19 17:17:07