Accounting

Partnership – A business owned by two or more individuals with profits or losses jointly shared
purchases – a temporary owner's equity account used to record the buying of merchandise for resale
Unearned revenue – Liability accounts
Check – Payment of goods is received
stockholder – an owner of one share of a corporation
Expense – a decrease in owner's equity resulting from the operation of a business
Moving your jaw forward, causing an underbite, is called ________.
The account Sales Discount increases sales. – False
income statement – also referred to as the statement of operations; most important financial report because it shows whether a business achieved its profitability goal through its operating activities; revenues, expenses, and net income. focuses on a company's profitability
Выпущенные долговые ценные бумаги – Debt securities in issue
compute the comparison of the LIFO and FIFO cost-flow assumption – FIFO LIFO
revenue $30 revenue $30
expenses $10 expenses $20
profit $20 profit $10
Mоving yоur jаw fоrwаrd, cаusing an underbite, is called ________.
Managerial Accounting – area of accounting that serves the decision-making needs of internal users; also called management accounting.
cash – Checking acct
money orders
pretty cash funds
contra accounts – Accumulated depreciation accounts

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