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When the Forward and Reverse Reactions Are Proceeding at the Same

question 78

Short Answer

When the forward and reverse reactions are proceeding at the same rate, the reaction is said to have reached ______________.

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Definitions:

Prior Period Adjustment

A correction of errors in previously issued financial statements to reflect accurate past financial information.

Retained Earnings

Profits that a company has chosen to reinvest in the business rather than distribute to shareholders as dividends.

Earnings Per Share

A financial ratio representing the portion of a company's profit allocated to each outstanding share of common stock.

Net Income

The total earnings of a company after subtracting all expenses and taxes from total revenue, representing the company's profit.

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