Intro To Accounting 20653 Exam 4 Laurie Wood Tcu

accounts receivable – vevÅ‘i követelések
long-term investments – generally, (1) investments in stocks and bonds of other corporations that companies hold for more than one year; (2) long-term assets, such as land and buildings, not currently being used in the company's operations; and (3) long-term notes receivable
Increase in a non cash current asset… – Decreases cash
CPA – Certified Public Accountant, an accountant who has passed certain examinations and met all other statutory and licensing requirements of a United States state to be certified by that state
Accrual Basis – A system of accounting by which all revenues and expenses are matches and reported on financial statements for the applicable period, regardless of when the cash related to the transaction is received or paid.
weighted average cost of goods sold – ((total * price X) + (total * price Y)) / total number of units
Expenses – a decrease in assets, other than withdrawals by the owner, which result from efforts to produce revenues.
SECTION 2: Indefinite articles question 2 [l1] cine
Accounting Entity – The finacial affairs of the owner must be kept distinct and seperate from the finacial affairs od their business.
This means that only the business's assets and liabilities will be reported in the statement of finacial position, and only its income and expenses in the income statement.
owner's equity – rights of owner
Left side – The debit side of the T-account is the
activos dados de baja – retired assets
notes receivable – formal investment, trade rec
SECTION 2: Indefinite аrticles questiоn 2 [l1] cine
MUTUAL AGENCY – THE ABILITY OF PARTNERS IN A PARTNERSHIP TO COMMIT OTHER PARTNERS AND THE BUSINESS TO A CONTRACT
capital social – capital stock
Common Stock and Capital – The total amount of cash received from all owners reported under stockholders equity

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