Financial accounting is the area of accounting aimed at serv…

An account used to record stockholders’ investments in a bus…

Income Summary is a temporary account only used for the clos…

Before an adjusting entry is made to accrue employee salarie…

Liquidity and efficiency are the ability to meet short-term…

The percent change of a comparative financial statement item…

Accrued expenses reflect transactions where cash is paid bef…

The indirect method separately lists each major item of oper…

A business’s record of the increases and decreases in a spec…

Graphical analysis of the balance sheet can be useful in ass…