Career Paths Accounting 1 Unit 7

A statement showing financial infomation for a certain period

• gross margin

• sales revenue

• P&L

• general and administrative expenses

Money that is paid to a government

• gross margin

• sales revenue

• taxes

• general and administrative expenses

The costs associated with organizing and running a business

• sales revenue

• P&L

• general and administrative expenses

• taxes

An amount that is calculated by substracting cost of goods sold

• gross margin

• sales revenue

• P&L

• expenses

The money that is received from selling goods or services

• taxes

• sales revenue

• P&L

• gross margin

Subtract taxes from the ... to find net income.

• operating margin

• net income

• gross margin

• sales revenue

... is the act of exchanging goods for money.

• Selling

• Revenue

• Net income

• Statement

... is the amount of money retained after all expenses.

• Net income

• Gross margin

• Operating margin

• Sales revenue

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

• income statement

• P&L

• profit and loss statement

• invoice

The total amount of money received from the sale of goods or services.

• Bookeeper

• Profit

• Revenue

• Expenses