Intro To Accounting 20653 Exam 3 Laurie Wood Tcu

ratio – a comparison of two quantities by division
Other income – income received that is not the direct result of regular trading activities of a business.
Component percentage – The percentage relationship between one financial statement item and the total that includes that item
accounts receivable – is the total amount of money to be received in the future for goods or services sold on credit.
income statement – a financial statement showing the revenue and expenses for a fiscal period
cost principle – Principle that states that assets and services should be recorded at their actual cost.
accounting – an information system that provides reports to stakehoulders about the economic activities and condition of business
Accounting – Planning,recording, analyzing and interpreting financial info
Accrual Basis – provided goods; earned income GAAP requires Accrual Basis
Revenues (earned)
– Expenses (used)
= Net Income
When we use something; recorded as we use them
which of the following is not an external user in accounting
a) lender
b) sales staff
c) shareholder
d) government – B) sales staff
Fill in the blanks with the preterite form of the verbs. Ayer, yo __________ (conocer) a los padres de mi novia.
Revenue, Income Statement – Type and Statement for: Rental Income
check – a business form ordering a bank to pay cash from a bank account
Creditors – claims to resources
Retained Earnings – Income retained in business to find future growth
credit memorandum – Source document prepared by the vendor showing the amount deducted for returns and allowances
Accum. Depreciation- Equipment – Asset/ Balance sheet
Anything on hand on left side is? – CA
Fill in the blаnks with the preterite fоrm оf the verbs. Ayer, yо __________ (conocer) а los pаdres de mi novia.
Phil Casey , Withdraw – acc. from taken out of business for use

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply