Account

owner's equity – the owner's contribution to the business, calculated by subtracting liabilities from assets
Source Document/Business Paper. – The first record of business transaction (examples include check stubs, receipts, sales invoices, purchase invoices, cash register tapes, etc.)
If an error is the difference of 1, what is most likely the error? – Addition error
Asset Turnover – net sales/ average total assets
Outstanding checks – checks issued and recorded by a company that have not been paid by the bank.
Which of the following statements should be prepared before the balance sheet is prepared? – Income statement and statement of retained earnings
Cholinergic fibers __________________.
*account payable* – The liability created by a purchase on account.
supply – снабжение, поставка
market trend – the upward or downward movement of a market for six months or more
Credit – the right side of an account
What is the auditors report? – A report where the auditor will give their opinion on whether the accounts provide a true and fair view of the company.
Piece-Rate Basis – A method of paying employees according to the number of units produced.
financial statements – statements that say if there is a profit or loss
Chоlinergic fibers __________________.
accounting records – organized summary of business finical acti.

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