Accountability

Required Sales Quantity in Units for a Before-tax Profit – Total Fixed Costs + Before-Tax Target Profit / Contribution Margin per Unit
Patent, Research and Development Cost, Copyrights, Trademarks, Franchises/Licenses, and Good will are all examples of what – Intangible assets
goodwill – is the value of attributable to favorable factors such as reputation, location, and superior products
Stockholders equity – Акционерный капитал
Trial balance – A list of ledger account balances, total debits must equal to total credit.
Endorsement in Full – Endorsement which uses the phrase, "pay to the order of"
accounts payable – Verbindlichkeiten
Fiscal period – The length pf time for which a business summarizes and reports financial information
28. Liabilities are best defined as:
A. Amounts the company expects to collect in the future from customers.
B. Debts or obligations the company owes resulting from past transactions.
C. The amounts that owners have invested in the business.
D. Payments to stockholders. – B. Debts or obligations the company owes resulting from past transactions.
There was a string of theaters and clubs throughout the South and Southeast that catered to African American audiences and were safe and acceptable for African American performers. African American artists performed in these venues when touring. It was nicknamed:
Cash-Basis Accounting – accounting can distort the measurement of net income because it sometimes fails to properly match revenues with expenses.
Define the Basic Elements of Financial Statements – The basic elements of financial statements are

(1) assets,
(2) liabilities,
(3) equity,
(4) investments by owners,
(5) distributions to owners,
(6) comprehensive income,
(7) revenues,
(8) expenses,
(9) gains, and
(10) losses.

We define these ten elements on.

Debt Ratio – Shows the proportion of assets financed with debt. Total liabilities / Total assets.
Conservatism – When faced with tow relatively equal ways to report an even, a company should choose the accounting method that will be LEAST LIKELY to overstate the assets of the profit
There wаs а string оf theаters and clubs thrоughоut the South and Southeast that catered to African American audiences and were safe and acceptable for African American performers. African American artists performed in these venues when touring. It was nicknamed:
Sarbanes-Oxley Act – Created the Public Company Accounting Oversight Board, regulates analyst conflicts, imposes corporate governance requirements, enhances accounting and control disclosures, impacts insider transactions and executive loans, establishes new types of criminal conduct, and expands penalties for violations of federal securities laws. (p.9)
Financial Statements – financial reports that summarize the financial condition and operation of a business
Trial Balance – A work paper proving the equality of the debit and credit balances in the ledger.
Data entry (recording) – the committing of a business transaction and the events surrounding such into writing.

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