Account

revenue recognition principle – recognized revenue when earned; principle
what is a contra account? – an account with a balance that is opposite, or "contra", to that of its related accounts. normal balance is credit.
publicly held corp. – a corp. that allows anyone to purchase their stock
share premium – kwota o która cena przewyższa kwotę minimalną akcji UK
current liability – an obligation that will be satisfied within the next operating cycle or within one year if the cycle is shorter than one year
Income Statement – Revenue & Expense Accounts only
invesment – assets put into the business by owner.
Which of the following statements is NOT true regarding the bonds among the phosphate groups of ATPs?
Bookkeeping – Recording of the financial transactions, includes purchases, sales, payments to a person or organisation
Account – A separate record used to summarize changes in each asset, liability, and owner's equity of a business.
Which оf the fоllоwing stаtements is NOT true regаrding the bonds аmong the phosphate groups of ATPs?
ABC assumes all costs are __________ because over the long run management can adjust the amount of resources employed.
a. fixed
b. variable
c. committed
d. nondiscretionary – b. variable
6 Steps in An Accounting Cycle – Journal – General Ledger – Trial Balance – Income Statement – Balance Sheet – Post Closing Trial Balance
accounts payable ledger – a subsidiary ledger containing only accounts for vendors from whom item are purchased or bought on account

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