Accountancy

*accounting* – An information system that provides reports to stakeholders about the economic activities and condition of a business.
Receiving cash from a customer on account will:
A) decrease liabilities
B) increase total assets
C) increase stockholders equity
D) have no effect on total assets – D) have no effect on total assets
Gross Earnings – The total amount of money an employee earns in a pay period.
Stockholder's Equity – Money the owners invested in the company to receive Common Stock, plus all the Net Income the company has kept (retained) in the company since it started business
A business owned by one person – proprietorship
Financial Ratio – Comparison between two items of financial information
Faithful Representation – information that is not biased
Assets – Anything of value that is owned.
accrued revenues – unrecorded revenues that have been earned & for which cash has yet to be received
Click the following link to begin your exam: Link Remember to return to Canvas after you've completed the assessment in Pearson to submit the proctoring session.  Password:Gj5Txm
Accounting – Planning, recording, analyzing, & interpreting financial information
Identify, record, communicate – The accounting process of correctly sequenced as
Click the fоllоwing link tо begin your exаm: Link Remember to return to Cаnvаs after you've completed the assessment in Pearson to submit the proctoring session.  Password:Gj5Txm
What is Credit Purchase? – Credit Purchase is when you buy something but pay later.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply