33642104
Description
Flashcards by Rizalyn Abila, updated more than 1 year ago
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Created by Rizalyn Abila
over 2 years ago
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| Question | Answer |
| compose of company name, the SCI title and the date starts with for the period ended (date) | Heading |
| are increases in economic benefits during the period in the form of inflows or enhancement of assets or decreases of liabilities | Income |
| are decreases in economic benefits during the period in the form of outflows or depletions of assets or increases of liabilities | Expenses |
| if the expenses are greater than income, then the result is called ____ | Net Loss |
| is the result of operation. If the income is greater than the expenses, then the result is_____ | Net Income |
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