Accounting Chapter 9 Vocabulary

Gross margin – The difference between net sales & cost of goods sold
accounting – planning, recording finical info
proof – إثبات أدلة برهان ( إسم ) حصن ( فعل)
Adjusting entry for prepaid expense – Results increase (a debit) to an expense account and a decrease (a credit) to an asset account
Land improvements – Assets that increase the benefits of land, have a limited useful life, and are depreciated.
funds-flow analysis – this technique is employed to determine the major uses and sources funds
An activity-based costing system is necessary for costing services that are similar. – False
Which one of the following sequences best describes the flow of information when a gene directs the synthesis of a cellular protein?
Which of the following statements concerning the cost-benefit relationship is not true? – If needed by financial statement users, management should gather information not included in the financial statements that would not otherwise be gathered for internal use.
In a period of inflation, which cost flow method produces the highest net income?
A. FIFO method.
B. LIFO method.
C. average-cost method.
D. gross profit method. – A
Day's Inventory on Hand – The average number of days it takes a company to sell the inventory it has in stock.
Days Inven.= # of days in a year/Inven. TO
What type of asset is a supply – Short-life
​Special Amount Column – A journal amount column headed with an account title
An example of external user is – customers
Which оne оf the fоllowing sequences best describes the flow of informаtion when а gene directs the synthesis of а cellular protein?
Net loss – The difference between total revenue and total expenses when total expenses is greater
Liability – An economic obligation (a debt) payable to an individual or an organization outside the business.
International Accounting Standards Board
(IASB) – An international accounting standard-setting
body responsible for the convergence of accounting
standards worldwide.
accounting period concept – revenue/expense to be reported in proper period

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