I Should Know This
Balance Sheet - A balance sheet reports a company's assets, liabilities and shareholder's equity during a given time. A financial statement of what a company owns and owes. In a household it can also be referred to as B.S. Especially the day after Black Friday.
Profit Margin - Determined by subtracting a company's expenses from revenue. So a 20% profit margin will equal a net income of $0.20 for every dollar of revenue earned.