Cost Accounting Final

shareholder/stockholders – owner of the corporation
Liabilities – An amount owed by a business
Operating – Dividends received from an investment
privately held corp. – a corp. that allows only a select group of people to purchase stock
False – T or F: When cash is paid on account, a liability is increased
Order of Liquidity – 1. Cash
2. Bank (Balance)
3. Accounts Recievable
4. Inventory
5. Supplies
6. Equipment
7. Trucks/Auto/Vehicles
8. Furniture
9. Building
10. Land
resultado antes del impuesto a las ganancias – income before income tax
Who wrote Animal Farm and 1984?
Other Assets – These assets are assets that doesn't fall into the category of fixed-assets and current assets.
Sales invoice – an invoice used as a source document for recording a sale on account
Account Receivable. – An unwritten promise by a customer to pay at a later date for goods sold or services rendered.
Whо wrоte Animаl Fаrm аnd 1984?
Accounting systematic methods – recording and evaluating
Decrease in a non cash current asset… – Increases cash
Office Supplies Expense – Normal Balance: Debit
Type of Account: Expense
Financial Statement: IS
Normal spoilage is computed on the basis of the number of:
a. good units that pass inspection during the current period
b. units that pass the inspection point during the current period
c. units that are 100% complete as to materials
d. None of these answers is correct. – a. good units that pass inspection during the current period

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