Accounting Quiz 3 Laurie Wood

dividends – the distribution of assets to stockholders
Creditors – A person or organization to whom a liability is owed.
40.Corporate governance – involves regulatory and market mechanisms, and the roles and relationships between a company's management, its board, its shareholders and other stakeholders, and the goals for which the corporation is governed.
Balance sheet common size statement/percentage method – Express the major items in the balance sheet as a percent of the total assets and compare with previous fiscal periods
statement of cash flows – a summary of the cash receipts and cash payments for a specific period of time, such as a month or a year
Common Stock – The most common type of stock. These stockholders have the four basic rights and are the owners of the corporation
Given the following importance weights Price = 50, Quality = 40, and Ease of use = 10, which of the following computers would be chosen using a compensatory decision rule?   NEC Compaq Dell Price 4 4 3 Quality 3 5 5 Ease of Use 5 3 5
term bonds – mature on a single date
Process-costing systems separate costs into cost categories according to the timing of when costs are introduced into the process. – True
Given the fоllоwing impоrtаnce weights Price = 50, Quаlity = 40, аnd Ease of use = 10, which of the following computers would be chosen using a compensatory decision rule?   NEC Compaq Dell Price 4 4 3 Quality 3 5 5 Ease of Use 5 3 5
The measurement principle, also called the cost principle – i.
Capital – Net worth; Owner's equity; proprietorship. the amount by which the total assets exceed the total liabilities of a business; an owner's financial interest in a business.
Salaries Payable – adjusting entry decreases stockholders' equity (retained earnings) and increases a liability
Audit – an inspection of the accounting procedures and records by a trained accountant or CPA
capital – another term for owner's equity-the amount of which the business assets exceed the business liabilities

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