Accounting I Chapters 1 Thru 9 Century 21 Accounting

FOB Shipping point – Freight terms indicating that ownership of goods passes to the buyer when the public carrier accepts the goods from the seller.
interim reports – financial statements prepared for a month, quarter, or some other portion of fiscal year
Dividends – taxable payment made to the owners of a business or shareholders in a business
Financial Accounting – The area of accounting that refers to providing information to support external investment and credit decisions.
order of current assets – cash and cash equivalents
short-term investments
receivables
inventories
prepaid expenses
Accrual accounting – reports on effects of events that ultimately have cash effects
Focuses on economically meaningful event (revenue recognition)
Matches outflows with the inflows they help to generate (expense recognition)
41-43. Consider the soft drink commercial that attempts to use classical conditioning by pairing a famous and well-liked basketball player with the soft drink in order to create favorable attitudes toward the product.  The ad begins with some scenes of the player dribbling and dunking the ball.  The remainder of the ad focuses on the product without any reference to the player.What type of conditioning order is used in this ad?
Intangible asset – A resource that is used in operation for more than one year, is not intended for resale, and has no physical substance
Monetary unit assumption – Accountants assume that the dollar is the most effective means to communicate economic activity
Cost of… – (expects to.. x variable cost) +fixed cost of…
Corporation – A separate legal entity that is established by filing articles of incorporation in a state
41-43. Cоnsider the sоft drink cоmmerciаl thаt аttempts to use classical conditioning by pairing a famous and well-liked basketball player with the soft drink in order to create favorable attitudes toward the product.  The ad begins with some scenes of the player dribbling and dunking the ball.  The remainder of the ad focuses on the product without any reference to the player.What type of conditioning order is used in this ad?
equity – in finance, in general, you can think of equity as ownership in any asset after all debts associated with that asset are paid off; for example, a car or house with no outstanding debt is considered the owner's equity because he or she can readily sell the item for cash

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