Accounting

Work in process inventory – consists of direct materials and direct labor and factory overhead cost for products that have entered the manufacturing process, but are not yet completed.
Operating expenses – expenses incurred in the normal operation of a business.
Cash Flows from Operating Activities – information on cash used or received in the process of preparing and providing goods or services to customers
accounts receivable – current asset, BS, debit
Cash Receipts Journal – A special journal used to record and post transactions involving the receipt of cash.
A merchandiser using a perpetual system will require one additional adjusting entry to make the records agree with the actual inventory on hand.
A. True
B. False – TRUE
Asset – Assets are resources that the entity has purchased in the past and has present control over in order to create future economic benefit.
Economic Entity Assumption or Reporting Entity Assumption – Indicates that personal and business record keeping should be separately maintained.
What room shape is the easiest to arrange effectively and be inviting?
CORPORATE SOCIAL RESPONSIBILITY (CSR) – IS A CONCEPT WHEREBY ORGANIZATIONS CONSIDER THE NEEDS OF ALL STAKEHOLDERS WHEN MAKING DECISIONS
financial year – Geschäftsjahr
Capital – What the business owes the owner
Break Even in Sales Dollars – Total Fixed Costs / Contribution Margin Ratio (%)
Whаt rооm shаpe is the eаsiest tо arrange effectively and be inviting?
Special journal – a log that is used to record and post transactions of a similar type
The cost to the company of the goods that it sold during the year – Expenses
Liability, Balance Sheet, Credit, Permanent – Acquired Liabilities
Accounting Equation – Assets=Liabilities+Stockholder's Equity
general journal – used to record transactions for which there is NO special journal

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