match the appropriate letter for the key term or concept to each definition provided 638388

Match the appropriate letter for the key term or concept to each definition provided (items 1–10). Note that not all key terms and concepts will be used.

1. The financial statement that explains why cash changed during the fiscal period.

2. Inventory losses resulting from theft, deterioration, and record keeping errors.

3. Outflows or other using up of assets or incurrence of a liability during a period from delivering or producing goods, rendering services, or carrying out other activities that constitute the entity’s major operations.

4. A gain or loss from a transaction that both is unusual in nature and occurs infrequently, and is reported separately on the income statement.

5. An income statement format that includes subtotals for gross profit, operating income, and income before taxes.

6. An expense deducted from net sales to arrive at gross profit.

7. The reduction in earnings per share of common stock that can occur if convertible securities are actually converted to common stock.

8. An income statement item representing the noncontrolling stockholders’ share of the earnings of a subsidiary that have been included in the consolidated income statement.

9. Achieves a fair presentation of the results of a firm’s operations during a period by requiring the deduction of all expenses incurred in generating that period’s revenues from the revenues earned in the period.

10. Net income available to the common stockholders divided by the average number of shares of common stock outstanding during the period.