Accounting principles and procedures (SOE) Flashcards
1
Q
What is RLB’s Profit target
A
60%
2
Q
what is on a balance sheet
A
assets, liabilities and equity
3
Q
what is the difference between PnL and Balance sheet
A
balance sheet doesnt show profit
4
Q
what is wip
A
work in progress
5
Q
Gross profit
A
Its the amount of money you make before removing expensives
6
Q
Net profit
A
Is surplus cash (money made) after all expenses have been paid
