Domain 4 Lesson 1

___________ is the owner's remaining value after all liabilities have been deducted. [Basic Financial Statements]

Equity

A(n) __________________ is a financial report that shows a company's assets, liabilities, and equity for a specific period. [Basic Financial Statements]

balance sheet

The _______________ point is the amount of revenue required to cover expenses. [Basic Financial Statements]

break-even

A(n) __________ price represents how much money it costs a business to make or obtain the products or how much it costs a business to perform the service. [Selling Price]

cost

A(n) ___________ statement, also known as a profit and loss statement, shows the total revenues and expenses for a specific period. [Basic Financial Statements]

income

A(n) ________________ refers to the net profit the company wants to make from the sale and is usually represented using a percentage. [Selling Price]

profit margin