| A | B |
|---|
| Account form of the balance sheet | A balance sheet form showing assets on the left and liabilities and equity on the right. |
| Cost of merchandise sold | The original price of all merchandise sold during a fiscal period. |
| Current liabilities | Liabilities due within a short time, usually within a year. |
| Gross profit on sales | The operating revenue remaining after cost of merchandise sold has been deducted. |
| Income from operations | The operating revenue remaining after the cost of merchandise sold and operating expenses have been deducted. |
| Long-term liabilities | Liabilities owed for more than a year. |
| Net sales | The amount of sales, less sales discounts and sales returns and allowances. |
| Operating expenses | The expenses incurred by a business in its normal operations. |
| Operating revenue | The revenue earned by a business from its normal business operations. |
| Par value | A value assigned to a share of stock and printed on the stock certificate. |
| Report form of the balance sheet | A balance sheet form listing asset, liability, and equity accounts in a single column, one after the other. |
| Statement of stockholders' equity | A financial statement that shows changes in a corporation’s ownership for a fiscal period. |
| Supporting schedule | A report prepared to give details about an item on a principal financial statement. |
