Below Is a List of Terms

question 59

Short Answer

Below is a list of terms:
1) Expenses
2) Gains
3) Income from continuing operations
4) Losses
5) Net income
6) Operating Income
7) Other comprehensive income items
8) Revenues
Required:
Match the appropriate term with the definitions shown below by placing the appropriate letter in the space provided.
a) Increases in assets or settlement of liabilities from delivering goods or producing goods
b) Outflows or using up assets
c) Other increases in equity resulting from transactions other than revenue producing
d) Decreases in equity
e) Subtotal that represents the company's ability to execute its business strategy and generate profitability from its core, central operations
f) Income total after income tax expense
g) Bottom line of the income statement
h) Change in equity of a company during a period from transactions, other events, and circumstances relating to nonowner sources.