PER CAPITA INCOME Definition

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PER CAPITA INCOME is the mean income computed for every man, woman, and child in a particular group. It is derived by dividing the total income of a particular group by the total population in that group.

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MATERIAL WEAKNESS is a condition that could potentially result in the material misstatement of the financial statements.

GROSS SURPLUS RATIO measures the margin on each dollar of operating revenue for the entity in question. The operating results before interest and depreciation, or gross surplus, are calculated as a percentage of total operating revenue. The gross surplus ratio shows the gross surplus as a percentage of the entitys turnover. If the percentage is high this could be interpreted as a sign that the entity is operating efficiently.

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