Statement Of Comprehensive Income Flashcards
1
Q
Revenue
A
Unit price X Quantity sold
2
Q
Gross Profit
A
Sales Revenue - Costs of goods sold
3
Q
Costs of Goods Sold
A
Opening Inventory + Purchases - Closing Inventory
4
Q
Profit/Loss for the year
A
Gross Profit - expenses + other income
5
Q
Net Book Value
A
Cost - Depreciation
