What is the purpose of an income statement?

To show a company's revenues and expenses over a specific period

To display the company's assets and liabilities

To summarize shareholder equity

To record cash transactions only

What does gross profit represent in an income statement?

Revenues minus Cost of Goods Sold

Operating expenses plus net income

What do operating expenses refer to in an income statement?

Costs related to regular business operations excluding COGS

What is the formula to calculate net income on an income statement?

Total Revenues minus Total Expenses

Gross Profit minus Operating Expenses

Total Revenues plus Total Expenses

Total Assets minus Total Liabilities

Prepare income statement

1.1 Implement the business plan; 1.2 Operate the business; 1.3 Sell the product/service to potential customers; 1.4 Identify the reasons for keeping business records; 1.5 Perform key bookkeeping tasks; 1.6 Interpret financial statements (balance sheet, income statement, cash flow projections, and summary of sales and cash receipts); 1.7 Prepare an income statement and a balance sheet; 1.8 Identify where there is a profit or loss for a business; and 1.9 Generate an overall report on the activity. entrepreneurship grade 12

Nutrition refers to the science that deals with the various factors of which food is composed and the way in which proper nourishment is brought about. Home Economics and Livelihood Education 7 Seibo College 152 Human nutrition involves properly feeding the people. It is therefore important to learn more about nutrition, taking into consideration the three (3) important factors: a. the food we eat b. the way it is digested, absorbed and used in the tissues of the body c. the kind of people for whom the food is intended Good health or “wellness” is not a matter of chance. Good health is a product of good nutrition which is the result of an adequate supply of essential nutrients in your body. Lack of these nutrients lead to illness or a condition known as “malnutrition”. Malnutrition occurs if there is an imbalance intake of nutrients or an inadequacy of one or any of the nutrients. Malnutrition are manifested in the following cases: 1. obesity due to overeating- Obesity occurs when a person eats more than what the body requires under normal condition. This results in an excess supply of calories that leads to obesity or overnutrition. 2. stunted growth of children due to lack of protein- If there is no sufficient supply of carbohydrates or fats protein is used by the body as an alternative source of energy. 3. under weight due to lack of carbohydrates- If the total amount of nutrients provided by the diet is insufficient , it results to undernutrition. What is good nutrition? Home Economics and Livelihood Education 7 Seibo College 153 What are the causes of malnutrition? 1. ignorance or lack of knowledge about proper food intake 2. low standard of living 3. limited food supply 4. emergence of calamities or social unrest 5. increased family size 6. poor eating habits What are food habits? Food habits mean one’s attitude towards food. If the body is fed by junk foods and became over/under supplied with particular vitamins, protein or other nutrients then the body will suffer from malnutrition. Let us identify the factors affecting food habits.  Education – knowledge about nutrition will help one to make wise decision about food.  Foods available - The kinds of food available to you usually are the foods you eat. Some foods can grow only in certain types of geographic locations and this determines the foods available in such locations  Religion - What foods people can eat or cannot eat have been dictated by their religious beliefs. For example, Moslems do not eat pork because Islam forbids them to eat it. Home Economics and Livelihood Education 7 Seibo College 154  Ethnicity – members of cultural groups formed their own living patterns which include food customs. It includes what food can or cannot be eaten.  Income/economic status – the type of food you choose depends on how money you have. Income dictates what food you can eat and how you eat them.  Convenience -. Meal management practices affect food habits because you can only prepare and eat foods you can easily cook with the facilities and the knowledge you have. Food habit refers to the way in which different people select , cook, serve and eat food that are available to them. Home Economics and Livelihood Education 7 Seibo College 155 Look at the diagram below for a better understanding. FACTORS THAT AFFECT FOOD HABITS FOOD HABITS Education Foods available Religion Convenience Economic status Ethnicit

Analysis is a method of organizing, sorting, and scrutinizing data in such a way that a research question can be answered or meaningful inferences can be drawn. 4 2. Bibliography is a list of all the sources used in the process of researching. 3. Concept refers to a mental idea of a phenomenon. These are words or terms that symbolize some aspects of reality. e. g. love, pain. 4. Conclusion provides a summary of the research. 5. Data is an information that can be words or numbers. 6. Data Gathering Tools refer to the devices/ instruments used to collect data such as questionnaire or computer- assisted interviewing system. 7. Data Presentation involves the use of a variety of different graphical techniques. 8. Descriptive study is a research design that describes “what is”( e.g. a survey). 9. In-Text Citation is the brief form of the reference included in the body of one’s work. 10. Limitations are restrictions in a study that may decrease the credibility and generalizability of the research findings. 11. Literature review is a critical summary or research on a topic of interest, generally prepared to put a research problem in context or to identify gaps and weaknesses in prior studies so as to justify a new investigation. 12. Plagiarism is the unethical practice of using words or ideas of another author/researcher without proper acknowledgement. 13. Quantitative Research is the process of collecting and analyzing numerical data. 14. Questionnaire is a set of questions used to gather information in a survey. 15. Research Topic is a subject or issue that a researcher is interested in when conducting a research. 16. Respondents are those persons who have been invited to participate in a particular study and have actually taken part in the study. 17. Research Question is the question around which a researcher centers his/ her research. 18. Sample is a part or subset of population selected to participate in the research study. 19. Socio Demographic Profile includes age, sex, education, migration, background and ethnicity, religious affiliation, marital status, household, employment, and income. 20.Variables are attributes or characteristics that can have more than one value, such as height or weight. These are qualities or quantities, properties or characteristics of people, things, or situations that change or vary

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