Accounts

Return on equity (ROE) – net income / Average Shareholder's Equity
Net Loss – When expenses exceed revenue
When the variable cost per unit decreases and the selling price per unit and other costs remain the same, the number of units that must be sold to break-even:
a.
Decreases.
b.
Stays the same.
c.
Increases.
d.
The answer cannot be determined from the above information. – a.
Decreases.
management accounting – The branch of accounting that generates information for the internal decision makers of a business, such as top executives.
Ethics – The principle of right and wrong that guide an individual in making decisions
57. Retained earnings at the end of the year is calculated using:
A. Beginning retained earnings, net income, and dividends.
B. Common stock and dividends.
C. Stockholders' equity, net income, and dividends.
D. Net income and dividends. – A. Beginning retained earnings, net income, and dividends.
account title – the name given to an account.
to treat – обращаться, обходиться, вести себя, относиться
file maintenance – The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current
The term dorsal means pertaining to the
d. – Periodic Inventory System: inventory system updates the accounting record for inventory only at the end of a period
general journal – a journal with two columns in which all kinds of entries can be recorded
The term dоrsаl meаns pertаining tо the
(Purpose of) Income Statement – To show the income, expenses and measure profit for the period for the entity.
Carryover – Unobligated Federal funds remaining at the end of any budget period that, with the approval of the GMO or under an automatic authority, may be carried forward to another budget period to cover allowable costs of that budget period (whether as an offset or additional authorization).
vendor – A business from which merchandise is purchased or supplies or other assets are bought.
Debit – An amount recorded on the left side
Sales tax – A tax on a sale of merchandise or services

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