Intro To Accounting 20653 Exam 3 Laurie Wood Tcu

Total Contribution margin – Will always change when sales change
a group of like accounts organized alphabetically – subsidiary ledger
Asset – Assets are resources that the entity has purchased in the past and has present control over in order to create future economic benefit.
cash flow from financial activities – are directly related to the financing of the enterprise itself. they involve the receipt or payment of money to investors and creditors
Fiscal year – an accounting period of twelve month.
Corporation – stockholders, not personally liable
Ke – Cost of equity
=Beta *MRP-risk free rate
. ABC Chewing Gum Inc. makes a sale on credit to a customer, and the customer will pay for the purchase two months from now. ABC records the expenses involved in making the sale in the same period as the sale, according to the:
a. dual effect concept
b. matching principle
c. historical cost concept
d. revenue recording concept – b. matching principle
Expense – A decrease in owners equity resulting from the operation of a business
Mendel’s manuscript discussing his pea-breeding results is considered one of the two most important scientific papers of the nineteenth century because he was the first to explain how
an investment occurs (increases) when the company takes excess cash and purchases (invests in) a financial instrument (stocks or bonds) to earn more money – …
asamblea general ordinaria – annual shareholders meeting
Inventory Turnover – Measure the number of times a company sells its average level of merchandise inventory during a period. Cost of Goods Sold/ Average merchandise inventory.
Define – Cooperative – A c00perative is an enterprise or organization that is organized, owned and democratically controlled by the people who use it's products and services, and whose earning are distributed on the basis of use rather than an investment.
adjunct account – increases either an asset, liability, or owners' equity account
False – T or F: if two amounts are recorded on the same side of the accounting equation, the equation will no longer be in balance
Managerial Accounting Information – Information provided internally. Management (or managerial) accounting involves the development and interpretation of accounting information intended specifically to assist management in operating the business. Much management accounting information is financial in nature but is orgnized in a manner relating directly to the decision at hand.
Mendel’s mаnuscript discussing his peа-breeding results is cоnsidered оne оf the two most importаnt scientific papers of the nineteenth century because he was the first to explain how
Depreciation – Expense created by allocating the cost of plant and equipment to periods in which they are used; represents the expense of using the asset.
events – Happenings that both affect an organization's financial position and can be reliably measured.

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