Accounting

There are 2 main types of sales tax, name them – Cascade sales tax
Vat. Value added tax
activity drivers – factors that measure the consumption of activities
by products and other cost objects.
limitations of the income statement – things cannot be measured reliably
different accounting methods
income measurement involves judgement
to extend a website – расширять сайт
National Restaurant Association (NRA) – A trade association whose members are mostly restaurateurs and restaurant corporations in the United States.
Accounts payable 3500
Cash 3430
Inventory 70 – Journal Entry: Sauk paid for inventory on $3500 of credit with terms the following terms 2/10, n/30. they paid within the within the discount period.(70 discount) How does Sauk(the buyer) record this
When does a fiscal period start? – Doesn't matter! The business can choose
Debt to Capital – Total Interest Bearing Debt/(Total Interest Bearing Debt+Owners' Equity
This histology image (the entire picture) is an organ.  What organ is it?
Increase in the owner's equity resulting from business operations is known as – Income
Reserve – • Is a cost (comp and collision)
• Is an account that fixes vehicles with DW
• If no damage then reserve # goes down because it is a cost so reward you with paying less
o It is $ to pay for damage when customer buys DW
• ((12 month rolling average) + (10%)) / (units in fleet)
o Why 10%?
• Acts as a buffer- we are being proactive
frozen assets – aktywa zamrożone
managerial accounting – Field of accounting that serves internal users of a company's financial information
This histоlоgy imаge (the entire picture) is аn оrgаn.  What organ is it?
the difference between personal assets and personal liabilities – personal net worth
A chronological record (or history) of an entity's transactions is called a: – journal
OTHER REVENUE AND EXPENSES – REVENUE OR EXPENSE THAT IS OUTSIDE NORMAL DAY-TO-DAY OPERATIONS OF A BUSINESS, SUCH AS A GAIN OR LOSS ON THE SALE OF PLANT ASSETS

EXAMPLE: INTEREST EXPENSE

generally accepted accounting principles (GAAP) – Generally accepted guidelines for the preparation of financial statements.

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