Accounting Terminology

Under what circumstances would a company have a net loss – When Expenses > Revenues
chain – сеть цепь, цепочка
tests of profitability – gross profit margin is from _
Stock Options – Options given to key employees to motivate them to focus on company performance, take a long-run perspective, remain with the company
credit – amount recorded on the right side
Cash Budgets – Cash Budgets are accounting reports which predicts future cash receipts and payments, determines the expected cash surplus or deficit and thus estimates the bank balance at the end of the budget. "Statement of Receipts and Payments"
What's in the Expected Cash Receipts
– Cash Received
– Interest From Investment
– Cash Fees/Takings
– Capital Contribution
– GST Received
– Loan Received
– GST Refund
– Debtors Receipts
What's in the Expected Cash Payments
– Expense Paid
– GST Paid
– GST Settlement
– Cash Drawings
– Loan Repayment
– Cash Paid for Non-Current Asset
– Payments to Creditors
capital – the account used to summarize the owner's equity in an business
Adjusting entries are required: – D. Every time financial statements are prepared.
assets – resources owned or controlled by an entity that will produce benefits in the future
SECTION 4: Conjugation of “ser”–question 6 Complete the sentence below by giving the correct present-tense form of the verb “ser”. You may not leave “ser” in infinitive–your answer must have a conjugated form of this verb. Note also that answers in any tense other than the present or answers that use any verb other than “ser” will receive no credit. Ustedes __________ de Puerto Rico.
Most telling ratio for debt paying ability – quick ratio
Income Tax – Levied on the earnings of individuals and businesses by federal, state, and local government
bookkeeping – счетоводство ежедневный бух учет
SECTION 4: Cоnjugаtiоn оf “ser”–question 6 Complete the sentence below by giving the correct present-tense form of the verb “ser”. You mаy not leаve “ser” in infinitive–your answer must have a conjugated form of this verb. Note also that answers in any tense other than the present or answers that use any verb other than “ser” will receive no credit. Ustedes __________ de Puerto Rico.
American Institute of Certified Public Accountants – The professional organization for certified public accountants
Liabilities – Probable future sacrifices of economic benefits arising from present obligations to transfer assets or provide services to others as a result of past transactions or events (what we owe)

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