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Revenue
The profit that a business makes from operations
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Balance Sheet
A formal statement of the assets, liabilities, and equity for one day a
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Income Statement
A formal statement of the expense, cost of merchandise, and revenue for a period of time
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Cash flow
A formal statement of the sources and uses of cash for cost from operations, investments, and other financial activities for a period of time
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Financial Statements
- Balance SheetÂ
- Income StatementÂ
- Cash Flow
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Unearned Revenue
is a liability
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Merchandise
Anything that is bought and resold for operations
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Revenue
Profit that a company makes from operations
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Transactions
Exchange of one value for another
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Account
Business form used to show changes in the accounting equations
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