Chapter 29- Statement of Comprehensive Income

____________is the money the business receives from selling goods and services.

_____________is the amount of money left after all expenses including taxation have been subtracted from revenue.

Businesses use the statement of comprehensive income to calculate the ________at the end of the financial year

___________profit is returned to the owners of a business

________ is given by gross profit – expenses

____________ is the minimum profit a business needs to make to retain the interest of the owner(s)

Sole traders and business partners may pay ______ tax.

_________ is the share of the profit paid to shareholders in a company.

___________are general overheads such as office salaries, IT expenses.

____________profit is held by a business rather than returning it to the owners and which may be used in the future