For Longer, More Formal Reports, Use the _______________ Format

question 12

Short Answer

For longer, more formal reports, use the _______________ format. These reports are usually printed on plain paper instead of letterhead stationery or memo forms. They begin with a title followed by systematically displayed headings and subheadings.

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Definitions:

Journal Entries

The recordation of financial transactions in a company’s accounting system that involves at least one debit and one credit entry.

Net Profit Margin

A financial ratio that shows the percentage of profit a company generates from its revenues.

Operating Income

Earnings before interest and taxes, representing the profit generated from a company's core business operations.

Net Income

The profit a company generates after all expenses, taxes, and costs have been subtracted from total revenue, indicating financial health.