Question Completion Status:
1.The ____________________ is a type of financial statement that indicates the worth or financial condition of a business as of a certain date.
1._________ assets are assets that are normally turned into cash within a year.
1._______ and _________ are assets that are used in transacting business and are more long term in nature.
Plant and equipment
Accounts and receivables
Notes and cash
Merchandise and inventory
1.___________ are amounts that the business owes.
1.Capital, proprietorship, and net worth are all terms that refer to owner’s _______.
1.A __________ analysis of a balance sheet shows the ratio of each item on the balance sheet to the total assets.
1.A(n) ___________ analysis compares the same item for two different years.
1.The ___________ statement shows the net income of a business over a period of years.
1.______ sales is the difference between the total sales and sales returns or allowances.
1.________ profit is the difference between the net sales and the cost of goods sold.