Financial Accounting Chapter 1

Account Payable. – An unwritten promise to pay creditor's for property such as merchandise, supplies or equipment purchased on credit, or for services received on credit.
blank endorsement – the handwritten signature of the payee on the back of the check
Checking Account – A bank account from which payments can be ordered by a depositor.
current assets – assets company plans to turn into cash or use to generate revenue in the next fiscal year
retained earnings – an amount earned by a corporation and not yet distributed to stockholders
Statement of cash flows – Reports a company's cash inflows and outflows for a period.
Accounts Payable – a short-term liability that will be pain in the future
Statement of Receipts and Payments – an accounting report which lists cash receipts and payments during a reporting period, the change in the bank balance, and the opening and closing balance
pre-tax profit – bruttó nyereség
In oxidation-reduction reactions, all of the following are true EXCEPT
Outlays or expenditures – Charges made to the project or program.
What is it called when a bond is issued above face value? – Premium on Bond
List Price – The retail price listed in a catalog or on an Internet site.
In оxidаtiоn-reductiоn reаctions, аll of the following are true EXCEPT
bond – a certificate that represents a corporation's promise to repay a certain amount of money and interest in the future
unearned revenue – liability created when customers pay in advance or products or services; earned when the product or services are later delivered
list 5 of the generally accepted accounting principles – cost
going concern
matching
conservatism
materiality
full disclosure
consistency
objective evidence
По справедливой цене – At fair value

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