Trading Comps Modeling Wall Street Prep exam

Trading Comps Modeling Wall Street Prep exam Assets - CORRECT ANSWER-resources a company uses to operate its business includes cash, A/R, PP&E Liabilities - CORRECT ANSWER-represents the company's contractual obligations and includes A/P, debt, accrued expenses Shareholder's equity - CORRECT ANSWER-is the residual the value of the business available to the owners (shareholders) after debts have been paid off Income statement - CORRECT ANSWER-illustrates the profitability of the company over a specified period of time broad sense: shows revenue-expenses Balance sheet - CORRECT ANSWER-snapshot of the company economic resources and funding for those resources at a given point in time (A = L + SE) Revenue - CORRECT ANSWER-"top-line" represents the sale of goods and services it is recorded when earned (even though cash might not have been received at the time of transaction) Expenses - CORRECT ANSWER-netted against revenue to arrive at net income