Accounts

Expense – Cost incurred in running a business by consuming services(sub -d of O.E)
Credit – An amount recorded on the right side of a T account.
Liability – An amount OWED by a business
Memo Information – – Used only when no other transaction is suitable (Not Cash Inflow, Cash Outflow, Credit Purchase, Credit Sale
– Only withdraw stock (Non Cash Items such as Capital, Contribution of non-cash items, advertising (stock used for advertising)
Benefits of sustainability reporting – Direct cost savings and enhance reputation in the market
Expenses – an expense is an outflow of money to another person or group to pay for an item or service, or for a category of costs.
single step income statement – an income statement in which all expenses are added together and subtracted from all revenues
The other nations in Asia were as much to blame for the crisis as Thailand. They were also pegging their exchange rates at unsustainable levels. 
Financial accounting – information is reported at fixed intervals (monthly, Quarterly, yearly) in general-purpose financial statements
(on Financial statements)cash flows during this period – statement of cash flow
sources of funds – the various places that finances for the firm have come from
Vertical analysis – Each line represents a percentage of sales
Investing activities – Activities that increase or decrease the long-term assets available to the business; a section of the statement of cash flows.
Other revenues and gain – A nonoperating-activities section of the income statement that shows revenues and gains unrelated to the company's main line of operations.
Liabilities – Any debt that a business owes
The оther nаtiоns in Asiа were аs much tо blame for the crisis as Thailand. They were also pegging their exchange rates at unsustainable levels. 
list price – The retail price listed in a catalog or on an Internet site.
Companies report short-term notes receivable at their cash (net) realizable value.
A. True
B. False – TRUE

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