7 3. EOM Expenses that support overall operations and includes expenses related to accounting, human resource management and financial management. 4. Single-step income statement 5. FOB 6. Acid-test ratio 9 A ratio used to assess a company's ability to pay its current liabilities; defined as quick assets divided by current liabilities. 7. Inventory shrinkage 8. Selling expenses 9. Multiple step income statement 10 Products a company owns and intends to sell. Cadadient 1 The abbreviation for free on board; refers to the point when ownership of goods passes to the buyer. 2 An income statement format that shows detailed computations of net sales and other costs and expenses, and reports subtotals for various classes of items. 3