Accounting Chapter 5

current assets- current liabilities – working capital
Budgeted production (in units) – =Budgeted sales (in units) + Desired FG ending inventory (in units) – FG beginning inventory (in units)
Chronological – In order of time
Expenses and income accounts are closed off to – Income summary
Gains – Are increases in assets or decreases in liabilities from peripheral transactions.
Accrued revenues are – C. earned but not yet received or recorded.
Withdrawals – …Is a Debit balance account.
Outstanding – A check that has been issued but not yet presented for payment
With which of the following competitive advantages is cost less of a barrier in attracting top talent for companies?
convertible – shares can be exchanged for common stock
Fiscal period – Length of time for which a business reports financial info, New business ➡ 1 month FP, established business ➡ 1 year FP
trade discount – a reduction in the list price granted to customers
provisionar – to set up a provision
With which оf the fоllоwing competitive аdvаntаges is cost less of a barrier in attracting top talent for companies?
market to book ratio (price to book ratio) – market price of per share / book value per share

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