A(n) ________ Is Used for Every Cash Payment Made

question 122

Multiple Choice

A(n) ________ is used for every cash payment made.

• A) invoice
• B) voucher
• C) purchase order
• D) purchase requisition

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Definitions:

Net Income

The total profit of a company after all expenses and taxes have been deducted from total revenue.

Return On Equity

This is a measure of financial performance calculated by dividing net income by shareholders' equity, indicating how much profit a company generates with the money shareholders have invested.

Retained Earnings

Retained earnings represent the cumulative amount of net income a company retains for reinvestment in its operations rather than paying it out as dividends.

Stockholders' Equity

The residual interest in the assets of a corporation after deducting its liabilities, representing ownership interest.