Accounts

Accounts – Cash, receivable, payable
adjusted trail balance – a trail balance taken after adjusting entries have been recorded
depletion – the process of allocating the cost of a natural resource to the period when it is consumed
intangible assets – Assets that do not have physical substance.
(goodwill)
Times Interest Ratio – Income before expense / interest expense
rents – operating costs, expenses
Which of these is not a measure of variation? 
Salaries and Wages – S&W – Payments made to employees of the institution for work performed.
establishing petty cash – petty cash debit cash credit
Memorandum – Form on which a brief message is written describing a transaction
Which оf these is nоt а meаsure оf vаriation? 
Expenses & withdrawls of assets from the business by the owner – The proprietorship of a business may be decreased by
The liquid ratio tells you: – The ability of the business to meet its immediate debts due in the next one or two months.
The dollars of liquid assets available to meet liquid liabilities eg. A ratio of 1.2:1 would mean there is $1.20 of liquid assets to meet $1 of liquid liabilties.
Financing activities – Equity capital and borrowing
Accrual Basis Accounting – Records revenue when earned and expenses when incurred, regardless of the timing of cash receipts or payments.
Manufacturing overhead costs are also referred to as:
a. indirect manufacturing costs
b. prime costs
c. period costs
d. direct material – a. indirect manufacturing costs

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