Chapter 01 - 010 Flashcards
0
Q
Earnings
A
- Indicates…
- Reflects …
- Approximates …
1
Q
Income statement
P20
A
- Measures a company’s…
- A representation …
- Provides …
2
Q
Gross profit
A
- Also called …
- Is …
- Indicates …
- Not especially relevant …
3
Q
Earnings from operations
P20
A
- Refers to …
2. Usually excludes …
4
Q
Earnings before taxes
A
Z
5
Q
Earnings from continuing operations
P20
A
- Income …
2. Also called …
6
Q
Accrual basis
P20
A
Z
7
Q
The statements of changes in shareholders equity
P22
A
- The statements of …
2. Useful in …
8
Q
Comprehensive income
P22
A
Z
9
Q
Why do earnings not typically equal net cash flows?
P24
A
Z
10
Q
Why is there a need for reporting on cash inflows and outflows?
P24
A
Z
11
Q
The statement of cash flows
P24
A
Z
