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Simple English definitions for legal terms

statement of income

Read a random definition: stipulatio juris

A quick definition of statement of income:

A statement of income, also known as an income statement or profit-and-loss statement, is a report that shows all the money a business earned and spent during a certain time period. This report includes all the revenue (money earned), expenses (money spent), gains (money earned from selling assets), and losses (money lost from selling assets) of the business. It is different from a balance sheet, which shows the financial position of a business at a specific point in time.

A more thorough explanation:

A statement of income, also known as an income statement, is a financial document that shows all the revenues, expenses, gains, and losses that a business has incurred during a specific period of time. It is used to determine the profitability of a business and to assess its financial performance.

For example, a company may create an income statement for the first quarter of the year, which would show all the money the company earned from sales, as well as all the expenses it incurred during that time, such as salaries, rent, and supplies. The income statement would then subtract the expenses from the revenues to determine the company's net income or loss for that period.

The income statement is an important tool for businesses to track their financial performance and make informed decisions about their operations. It is often used by investors, creditors, and other stakeholders to evaluate a company's financial health and potential for growth.

statement of financial position | statement of intention

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im only cute at pilates when i go to the gym im wearing the same nike shorts ive had since 7th grade and whatever old t shirt my dad gave me
Mostlylegal
14:55
??? what sweatpants do you wear, also i know lulu is expensive but their stuff lasts forever
oh i hate working out in sweats, shorts or leggings or bust
not the Loyola not Chicago decision
Mostlylegal
14:56
unfortunately cant wear leggings anymore the front desk wasnt to happy bout it
(close ur eyes lily)
fr like im actually over it like what is this hell they put me in im so done
how do you work out in sweats
id be melting
also if you dont want men to stare at you at the gym, orangetheory is like 70% women
maybe I'll find an orangetheory. I did spin for ages and that was the girls or the gays, especially if u went to the themed nights
oh there's one fr like three blocks from my house
15:03
THEMED SPIN NIGHTS with girls and gays duude id fuckin be there every day
15:04
what was one of the themes
15:04
lady gaga kesha night at spin ughhhh i wish
female rappers, so megan thee and doja and nicki and flo milli. vibes/10
also they had y2k nights, taylor swift (IF UR INTO THAT), a lot of the time they would do album release nights. so like a week after an album there would be a dedicated spin sesh
15:06
tht sounds so fun omg
15:07
i need a hobby when ppl ask u guys what u do for fun do u know what to say like
15:08
i enjoy watchig reels
I do enjoy watercolor painting, but I believe language used on my resume was "Watercolor painting, reading general fiction novels, digital architecture and interior design, travel"
i knit, read, do solidcore, sew, bike, and im in a mahjong league
15:17
i like to bake cookies, go in the woods, race, shoplift, and get drunk once a week
if you say you read no one will question you bc most people don’t read these days
i read but yeah its fourth wing sue me
@legallybrunettelily: is it any good? i haven't read fantasy in years bc booktok irks me
i think its is amazing nd i hate 90% of booktok
they get worse over time though
like the first two are good
sold ty i was thinking of reading more fantasy today while driving to work
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