Financial Accounting Ratios

to hire a company – нанимать компанию
The sole owner of a business is called a – Proprietor
Accrual Bases accounting – revenues are recognized when expenses are earned; expenses when it occurs. Required for the GAAP, more accurately measures profit.
corporation – A business owned by stockholders who share in its profits but are not personally responsible for its debts
Chronological. – In accounting, to record in order of time.
The matching principle provides the investor with more useful information on – the income statement
Accounting – System of communicating financial information to interested users/parties, e.g. individuals/households, owners, potential investors, IRD, banks, creditors, suppliers and managers
Financial Accounting – The area of accounting that refers to providing information to support external investment and credit decisions.
Select receptors that have been implicated in drug addiction. Check all that apply.
source document – a piece of paper showing evidence that a transaction took place
Income and cash flow usually move: – Together bc net income eventually generates cash
intangible asets – Long-term resources that benefit business operations. They usually lack physical form and have uncertain benefits. Examples include patents, trademarks, copyrights, franchises, and goodwill.
Sales – The resources that a company generates during a period from selling its inventory
Select receptоrs thаt hаve been implicаted in drug addictiоn. Check all that apply.
An example of external user is customers – b.
expenses – the dollar amount of resources the entity used to earn revenues during the period
Trial balance – List of all accounts and their balances at particular date

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