Accounting

remittance advice – Überweisungsanzeige
inventory turnover ratio – cost of goods sold/ average inventory
Income Statement – amount of revenue from sale of funeral services would be shown on the
Assets – Properties of monetary value owned by a business. Things of value owned by a business.
tests of debt service – total capitalization ratio is from _
Accounting records – Organized summaries of a business's financial activity.
Comparable information – used in comparison across years and companies
Which of the following is an ethical lapse when handling sources?
Sales mix – Room revenue/ total revenue
The normal balance of the common stock account is a ________ because it increases ________.
A) debit, assets
B) debit, stockholders equity
C) credit, stockholders equity
D) debit, expenses – C) credit, stockholders equity
what sets reporting requirements and sets GAAP for publicly traded companies – SEC
Contra Asset – A deduction from an asset e.g. accumulated depreciation
Current assets / Current liabilities – = Current ratio
nonvalue-added activities – all activities other than those that are
absolutely essential to remain in business.
Know the difference between cash and accrual basis of accounting – 7.
Which оf the fоllоwing is аn ethicаl lаpse when handling sources?
*interest revenue* – Money received for interest.
credit balance – a condition that occurs when the total of the credits in an account is larger than the total of the debits in that account
Owners' Equity – The amount of money that owners would receive if they sold all of a firm's assets and paid all of its liabilities
NOT-FOR-PROFIT – ORGANIZATION THAT HAS BEEN APPROVED BY THE INTERNAL REVENUE SERVICE TO OPERATE FOR A RELIGIOUS, CHARITABLE, OR EDUCATIONAL PURPOSE.

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