C4 Classify Accounts

Non-Cash investing and Financing Activities – Important investing and financing activities that do not affect cash.
Fixed asset – long term tangible piece of property that a firm uses in production of its income
FOB Shipping Point – buyer pays the shipping charges an owes the merchandise during transit
Statement of Retained Earnings – Reports the way that net income and the distribution of dividends affected the financial position of the company during the accounting period.
Leasehold Improvements – Lessee may pay for alterations or improvements to the leased property such as partitions, painting, and storefronts. These costs are usually amortized over the term of the lease
General Journal – All-purpose journal for recording the debits and credits of transactions and events.
property – items of value that are owned or controlled by a business; economic resources of a business
Purchases Journal. – A book of original entry used to record purchases of merchandise on credit only.
Gross Earnings/Gross Pay. – Income before any deductions have been made.
food trade – продажа продуктов питания
Passage 2 Which of the following is the main idea of the passage?
gross margin – difference between net revenue and cost of revenue. What is the ultimate revenue
limited liability – Generally when liability is limited to the amount invested in a business; protects personal assets from the firm's creditors
Directors' report – Report prepared by a company's directors and included with the financial statements
Pаssаge 2 Which оf the fоllоwing is the mаin idea of the passage?
Financial Ratio – Comparison between two items of financial information

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