To Insert the Current Date in Cell B1,type CURRENT DATE

question 22

True/False

To insert the current date in cell B1,type CURRENT DATE in cell A1 and NOW()in cell B1 and press ENTER.

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Definitions:

Selling Expenses

Operating expenses directly related to the sale of goods excluding Cost of Goods Sold.

Interest Revenue

Income earned by lending funds or allowing another entity to use your funds, where the borrower pays interest.

Income Statement

A financial statement that shows a company's revenues and expenses over a specified period, culminating in net profit or loss.

Other Income

Any revenue other than revenue from sales. It appears in a separate section on the income statement. Examples: Rental Income and Storage Fees.