Acc 211 Principles Accounting I

Notes Payable – The account that is credited when money is borrowed from a bank.
Assets = Liabilities + Owners Equity is the: – Basic Accounting Equation
Gross Profit – Income statement
Reveunes/ sales – COGS
Capital account – The account used to summarize the owner's equity in a business
Make or Buy Decision – In the MAKE column, list all the costs that will not be incurred if the company buys. Use per unit cost for all variable costs and multiple by the volume to get the total.
Implement the alternative that gives the lowest net cost
F.U.T.A. – Federal Unemployment Tax Act.
What is the total number of alleles present for any given gene in a population of 100 individuals?
budget account – Haushaltskonto
stockholder – a person who owns stock in a corporation.
dividends – a distribution of the net income of a business to its stockholders
non-cumulative dividends – if not declared this year, the board may not declare in the future
activity output measure – the number of times an activity is performed.
It is the quantifiable measure of the output.
Whаt is the tоtаl number оf аlleles present fоr any given gene in a population of 100 individuals?
The entry is complete – A double line under the last entry on a T-account means
Usually an employee of a CPA firm, as an independent contractor – Public accounting
Income Statement – A financial statement showing the revenue and expenses for a fiscal period

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