Accounting Terminology

effective date – yürürlülük tarihi
Assets – resources controlled by a business
What type of company asset would fixtures be considered? – Plant Asset
Petty Cash Slip – Proof of a petty cash payment
Incomes – •Inflow of value
•Asset increases OR Liability decreases
•Equity increases (not because of more capital)
purchases return – Credit allowed for the purchase price of returned merchandise, resulting in a decrease in the customer's accounts payable
FASB – Financial Accounting Standards Board – independent – set accounting rules
What is Reliability? – Information is reliable when it is free from material error and bias and can be verified by a source document. (Information must be correct and no mistakes)
common stock – when a corporation issues only one class of stock, also called capital stock
The product from the alpha decay of U is ________.
expenses – cost of assets consumed for services used
intangible assets with a definite life decrease over the time the asset is used – …
to hire a company – нанимать компанию
earnings per share – a measure of net income earned on each share of common stock; computed as net income minus preferred dividends by the average number of common shares outstanding during the year
Income tax – To fed/state/local, factors
Mariatal status
Amount of income
State
Withholding allowances (anyone you financially care for)
How often you get paod
Quick ratio – a measure of the relationship between short-term assets and current liabilities.
The prоduct frоm the аlphа decаy оf U is ________.
International Financial Reporting Standards – rules of accounting created by the international accounting standards board (IASB) for international use

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