Accounting 1: Chapter 1 Century 21 9e

Goodwill – = Purchase Price- FV of net asset acquired
PP&E Turnover – (Sales Revenue/Ave. Fixed Assets)
C.P.A. – Certified Public Accountant
Catalog of Federal Domestic Assistance – CFDA – A database which helps the federal government track all programs it has domestically funded.
Going Concern – the accounting assumption that a business is expected to operate indefinitely
trial balance – summary listing of the titles and balances of accounts in the ledger.
General amount column – journal amount not headed with a title
annual report – a report prepared by corporate management that presents financial information including financial statements, a management discussion and analysis section, notes, and an independent auditors' report
Sales – a temporary owner's equity account used to record the earning of revenue.
Equity – What belongs to the owners, what is left after liabilities are taken care of
Which statement about microbial testing is False?
share of stock – each unit of ownership in a corporation
merchandise inventory – The merchandise that a company sells to customers, also called inventory.
Which stаtement аbоut micrоbiаl testing is False?
Merchandising business – A business that purchases and sells goods.
errores significativos – material mistatements
outstanding checks – checks that have been written, but have not yet cleared the bank

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