Accounting General Journal, 9e: Chapter 01

Define: Operating profitability Ratios – How good management is at turning their efforts into profits. These compare the top of the income statement (sales) to profits.
Income statement (P&L) – This statement presents revenues and expenses and resulting net income or loss for a period of time.
Point of State – A computer used to collect, store, and report all the info of a sales transaction.
Cash equivalents include all of the following except
A. money market funds.
B. commercial paper.
C. U.S. Treasury bills.
D. restricted cash. – D
Does the company generate sufficient cash rom operations to fund its investing activities? – Statement of cash flows
Indirect Cost Rate – The rate, expressed as a percentage of a base amount (MTDC, for example), established by negotiation with the cognizant federal agency on the basis of the institution's projected costs for the year and distributed as prescribed in OMB Circular A-21.
annual – سنوي، حَولي
Which of the following funds is a governmental fund-type?
#27. What is the balance in the cash account at the end of May? – 100,000 minus 20,000 minus 13,000 + 3,000
investment minus cash down payment minus cash payment + sold equipment
Internal users – are those directly involved in managing and operation an organization. Using information to improve the efficiency and effectiveness of an organization.
Final Processing/Reporting. – The process of communicating the results achieved during accounting period to others.
What is another term for Property, Plant and Equipment assets: – Long Term Assets
Which оf the fоllоwing funds is а governmentаl fund-type?
Common Types of Long-Term Capital Investments: – 1. Purchasing new equipment to reduce costs.
2. Purchasing new property or equipment for expansion.
3. Replacing equipment currently used.
4. Purchasing another company.
5. Adding a new product line that requires additional long-term assets.
Inventory Turnover – how long it takes to sell merchandise. :formula (cost of goods sold/ average inventory/365) needs to be low
IVA responsable inscripto – V A T registered tax payer
Price-earnings ratio – Stock price/Earnings per share
materiality constraint – An item is material when its size makes it likely to influence the decision of an investor or creditor.

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