Fundamental Accounting Principles

Fixed asset – property of a relatively permanent nature used in the operation of a business and not intended for resale is called
marketing costs – operating costs, expenses
Sole Proprietorship – Business owned by one person
these must be filled to get money out of petty cash – vouchers
How is the current ratio calculated? How is it used to evaluate a company? – b.
cost driver – a factor, such as machine-hours, beds, occupied, computer time, r flight-hours, that causes overhead costs.
Any person who agrees to perform a service for a fee and is not subject to the control of those whom he services is called: – Independent contractor
SECTION 8: Present tense of stem-changing verbs–question 8 Special letters, should you need them:   á    é   í    ó   ú    ñ Esos* estudiantes siempre [l1] (perder) sus libros de texto.     *(“Esos” means “those”)
net pay/net earnings – gross pay less payroll deductions;employees take home pay
comparability – The ability to make relative assessments of companies.
External users – Investors and creditors
SECTION 8: Present tense оf stem-chаnging verbs–questiоn 8 Speciаl letters, shоuld you need them:   á    é   í    ó   ú    ñ Esos* estudiаntes siempre [l1] (perder) sus libros de texto.     *(“Esos” means “those”)
When estimating a cost function, cost behavior can be approximated by a linear cost function within the relevant range. – True
Assets – Items of value owned or controlled by a business
Monetary unit assumption – An assumption that requires that only those things that can be expressed in money are included in the accounting records
How to Increase Vehicle Adjustment? – • Selling our cars better
• Pulling faster
Credit – An amount recorded on the right side

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