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Chapter 29- Statement of Comprehensive Income
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_________ is the share of the profit paid to shareholders in a company.
Dividend
___________are general overheads such as office salaries, IT expenses.
Administrative expenses
____________ is the minimum profit a business needs to make to retain the interest of the owner(s)
Normal profit
_____________is the amount of money left after all expenses including taxation have been subtracted from revenue.
Profit for the year after tax
____________is the money the business receives from selling goods and services.
Revenue
____________profit is held by a business rather than returning it to the owners and which may be used in the future
Retained
___________profit is returned to the owners of a business
Distributed
Sole traders and business partners may pay ______ tax.
income
________ is given by gross profit – expenses
Operating profit
Businesses use the statement of comprehensive income to calculate the ________at the end of the financial year
profit
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