Investing – involve acquiring the resources necessary to run the business
Other revenues and gains – Income statement
Own section after operating income
Bookkeeping differs from accounting in that bookkeeping primarily involves which part of the accounting process? – C. Recording
Equity – The owner's claims on assets, and is equal to assets – liabilities.

*Also called net assets or residual equity.

Footing – The totaling of a column of a journal or ledger is called
An item is not recorded because its effect on income would not change a decision. – Materiality.
Retained Earnings – The amount of stockholders' equity the corporation has earned through profitable operations and has not used for dividends
-Totally separate from the company's cash account
-Increased by net income, decreased by dividends/net loss
ignore – figyelmen kívül hagy
Chronological order – The book of original entry is in
They were an “odd band out” in San Francisco, producing three-minute hit singles in the style known as “swamp rock.”
Total cost of a job – =DM used + DL incurred + MOH applied
purchase returns – refer to merchandise a buyer acquires but then returns to the seller
They were аn “оdd bаnd оut” in Sаn Franciscо, producing three-minute hit singles in the style known as “swamp rock.”
financial statement – mali tablolar
Which stock has contractual provisions that give cause a preference or priority over common stock? – Preferred Stock
Earnings per share – each shareholders share of profits. : formula (net income/ # of shares) needs to be high

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