Insert the Correct Response

question 6

Short Answer

Insert the correct response. Reduce ratios and fractions to the lowest terms.
-Change 27% to a ratio. ____________________

---

Definitions:

Revenue Earned

Income a company receives from its normal business activities, usually from the sale of goods and services to customers.

Financial Statements

Documents that summarize the financial activities and condition of a business, including the balance sheet, income statement, and cash flow statement.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide the financial reporting process.

Double-Entry Accounting

An accounting method that involves making two entries for every transaction, to maintain the balance of the accounting equation.