Examlex
MATCHING
Match each person with one of the descriptions below.
-William Jennings Bryan
Income Tax Expense
represents the cost to a company of the taxes it must pay on its income, reflecting both current and deferred tax charges.
Profit and Loss Summary
A financial statement that summarizes the revenues, costs, and expenses incurred during a specific period, typically a fiscal quarter or year.
Retained Earnings
The portion of net income left over for the business after it has paid out dividends to its shareholders.
Useful Life
The estimated time period that an asset is expected to be used by an entity, during which it is anticipated to contribute to the entity's cash flows.
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