Cost Accounting Final

poacher – one who goes to another person's land to steal
correcting entry – a journal entry made to correct an error in a previous journal entry
Electronic Funds Transfer – A computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents
Unqualified Opinion – Best opinion. Statements used GAAP and are a FAIR representation of the company's actual financial condition
Retained earnings deficit – debit balance in retained earnings; occurs when cumulative looses and dividends exceed cumulative income
Wages Expense – 1. Expense
2. Income Statements
3. Debit
4. Temporary
Total Asset Ratio – Comparison of total assets with total
VARIABLE OVERHEAD EFFICIENCY VARIANCE – SR X (SH-AH)
Net Sale Revenue – The amount a company has made on sale of merchandise inventory after returns, allowance, and discounts have been take out. Sales revenue less sale returns and allowance and sale discount.
previsión para desvalorización de xx – allowance for impairment of xx
Which kind of organism makes up the oldest fossil found on Earth?
Freight Out – The transportation cost to ship goods out of the seller's warehouse; therefore, it is freight goods sold to a customer.
Разводненная прибыль на акцию – Deluted earnings per share
Accounting Cycle Step 4 – Accounting Cycle: Step to prepare a worksheet. At the end of each period, prepare a worksheet.
Начисление, поступление – Accrual
special journal – A journal used to record only one kind of transaction.
What is affected by and incurred expense? – Less prepaid expense, less cash, or more payable (liability).
2 THINGS:
1st the Expense
2nd a balance sheet account changes
What is the amount of stock a corporation is authorized to sell? – Authorized Stock
Which kind оf оrgаnism mаkes up the оldest fossil found on Eаrth?
patent – give the exclusive right from US government to use technology or drug for a period of 20 years, granted to protect the invention from imitators
Conceptual Framework for Financial Reporting: Second Level "What are the two concepts? – 1. Qualitative Characteristics
2. Elements
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.

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