Flashcards
QBO Chapter 10 Key Terms
Cards in this deck (6)
- 1Financial Statementsthey are reports used by investors, owners, and creditors to make decisions
- 2Profits and losslist income and expenses, summarizing the income a company has earned and the expenses incurred to earn the income
- 3Balance sheetlist assets, and owner's equity, summarizing what a company owns and owes on a particular date
- 4Statement of cash flowslist cash flows from operating, investing, and financing activities of a business
- 5Management reportsare used by internal users (managers) to make decisions regarding company operations
- 6Tax formsprovides information to federal and state tax authorities