Accounting Chapter 4 Vocab

Trademark – Symbol, name, phrase, or jingle identified with a company, product, or service.
Cost-Benefit Relationship – Principle that states the cost of providing financial information must not outweigh the benefit of the information to the users.
Manufacturing Costs (MC) – DM, DL, and MOH
Account – summary of the information regarding one part of the accounting equation
Market Interest Rate – Or Yield, is the current rate of interest on debt when incurred.
Value – An item's equivalence in money
cost of goods sold – the total cost of merchandise sold during the period
The villagers in the community were from the Inca indigenous tribe. 
explicit transactions – triggered by a specific event, often an exchange of resources between two parties
STABLE MONETARY UNIT CONCEPT – THE CONCEPT THAT SAYS THAT ACCOUNTANTS ASSUME THAT THE DOLLAR'S PURCHASING POWER IS STABLE
Depreciation Expense – Expense
Income Statement
Debit
MATERIALITY CONSTRAINT – the constraint of determining whether an item is large enough to likely influence the decision of an investor or creditor
The villаgers in the cоmmunity were frоm the Incа indigenоus tribe. 
(Objectives of financial statements)Benefits exceed costs – benefits to user of financial info should info should exceed cost of preparation
The materiality constraint – i.

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