Financial Accounting Ch 8

Tangible goods – depreciation
beg amount +capex-dep=ending amount
Moody's investors service – Private sector body that rates creditworthiness of bond issuers
General journal – the most basic form of journal
copyright – exclusive right to the use of something written, such as music, or a book
Interest. – Money paid for the use of money.
P/P/E – property/plant/equipment
A population of 8,250 mice occupies the sand dunes in a coastal area. A severe hurricane washes out several miles of sand dunes. As a result, only 50 mice remain. The population has experienced
What is the balance sheet equation? – Assets = Liabilities + shareholders funds
On a bank reconciliation, deposits in transit are
A. added to the bank balance.
B. deducted from the bank balance.
C. added to the book balance.
D. deducted from the book balance. – A
capital – the account used to summarize the owner's equity in an business
A pоpulаtiоn оf 8,250 mice occupies the sаnd dunes in а coastal area. A severe hurricane washes out several miles of sand dunes. As a result, only 50 mice remain. The population has experienced
What is a primary objective of financial reporting as indicated in the conceptual framework? – provide information that is useful to those making investing and credit decisions
Coporation – a business whose ownership is divided into "shares" which are "issued" (sold) to represent ownership
Industry Practices – Permits the use of market value valuation in certain specific situations.

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