What does an income statement show?
The financial performance of a business
A sales projection for a business
The value of a business
What must be taken away from sales revenue to show the gross profit of a business?
Expenses
Expenses and cost of sales
Cost of sales
Which of these would be considered to be a current asset by a business?
Business premises
Money owed by debtors
Delivery vans
What is working equity?
Money owed to a business by debtors
Money that is tied up in investments or property
Money that a business can access immediately
What shows the overall worth of a business?
Its non-current assets
Its net assets
Its liabilities