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INCOME 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 operating 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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L

A broad monetary measure that combines M3 plus several liquid assets, including commercial paper, U.S. Treasury bills, savings bonds, and bankers' acceptances. L used to be tracked and reported by the Federal Reserve System along with M1, M2, and M3. However, L is no longer reported.

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APLS

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Today, you are likely to spend a great deal of time searching for rummage sales hoping to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for cardboard boxes.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
"When one door closes another door opens; but we do often look so long and so regretfully upon the closed door, that we do not see the ones which open for us. "

-- Alexander Graham Bell, inventor

MAR
Minimum Acceptable Revenue
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