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In Computing a ________ Is Both a Set of Rules

question 50

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In computing a ________ is both a set of rules, usually formalized in a published standard, as well as an implementation of that set of rules.


Definitions:

Income Statement

A financial document that shows a company's revenues and expenses over a specific period, illustrating profitability.

Working Capital Ratio

The amount of current assets that would remain if all a company’s current liabilities were paid immediately; total current assets / total current liabilities.

Balance Sheet

A financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time.

Income Statement

a financial statement that shows a company's revenues and expenses, and thus its profit or loss, over a specific period of time.

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