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OPERATING STATEMENT: A statement of the revenues, expenditures, and profit for a business, household, or government entity over a given period of time. An income statement also goes by the names profit and loss statement, earnings report, and income statement. This is one of two key financial statements for an entity. The other is a balance sheet, which is a statement of assets, liabilities, and net worth at a given point in time.
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CAPITALISM A type of economy, or economic system, based on--(1) private ownership of most resources, goods, and other assets; (2) freedom to generally use the privately-owned resources, goods, and other assets to get the most wages, rent, interest, and profit possible; and (3) a system of relatively competitive markets.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club seeking to buy either a birthday greeting card for your mother that doesn't look like a greeting card or a handcrafted spice rack. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"Long-range goals keep you from being frustrated by short-term failures " -- J. C. Penney, Retailer
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JET
Journal of Economic Theory
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