The final figure or bottom line on an income statement is called the net revenue.

U.S. banks provide better customer service and have access to more sources of funding than local banks in many countries.

Retained earnings are the amounts left over from profitable operations since the firm’s beginning. They are equal to total profits minus all dividends paid to stockholders.

Consumer finance companies make loans to individuals; commercial finance companies make loans to businesses.

The major disadvantage of debt financing is the inability to deduct interest expenses for income tax purposes.

Short-term loans:

Credit unions are state-chartered banks that operate much like savings and loan associations.

An accountant who has a bachelor’s degree, passes a test prepared by the professional organization AICPA, and has a certain number of years of on-the-job training becomes a:

_____ are temporary investments of excess cash in bonds and stocks that can readily be converted into cash.

The first step in the accounting cycle is to: