Unformatted text preview: Glossary for Chapter 17 Business segment Part of a company that can be separately identified by the products or services that it provides or by the geographic markets that it serves; also called segment . Common-size financial statement Statement that expresses each amount as a percent of a base amount. In the balance sheet, total assets is usually the base and is expressed as 100%. In the income statement, net sales is usually the base. Comparative financial statement Statement with data for two or more successive periods placed in side-by-side columns, often with changes shown in dollar amounts and percents. Efficiency Company's productivity in using its assets; usually measured relative to how much revenue a certain level of assets generates. Equity ratio Portion of total assets provided by equity, computed as total equity divided by total assets. Extraordinary gains or losses Gains or losses reported separately from continuing operations because they are both unusual and infrequent. Gains or losses reported separately from continuing operations because they are both unusual and infrequent....
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- Spring '10
- Balance Sheet, Generally Accepted Accounting Principles, operating environment