Accounting Chapter 1

has limited liability

An advantage of the corporate form of organization is that a corportation

sales of goods or services to customers

Revenues are

dividend

The portion of corporate profits paid out to stockholders

positive

a sign of a compmany's success may be seen if net income is

financial statements

companies communicate info about their business activities primarily through

accounting equation

is referred to as the fundamental model of business valuation

revenues minus expenses

net income equals

Income Statement

the financial statement that summarizes the profit-generating activities of a company during a particular period of time is the

summarize the profit-generating activities that occurred during a particular reporting period

the purpose of an income statement is

Measure companies activities and communicate measurements of companies' activities to others.

Accoutants' primary information-related roles are to.

common Stock

what is a statement of stockholder's equity