Financial Accounting Equations

Permanent Accounts – "real accounts" are not zeroed out at the end of the fiscal year
Publicly Traded – A company with stock that can be bought and sold by investors on established stock exchanges.
expanded accounting equation – Assets= Liabilities + Capital – Withdrawals + Revenue – Expenses.
Contra asset – Asset which is linked with another account
predetermined – محدد مسبقاً
Нераспред прибыль – Retained earnings
 A free market is generally dependent on what type of political system?   
Cost-benefit – weighing the cost of providing information against the benefits that can derived from using it
For which form of business ownership are the owners of a business legally distinct from the business? – Corporation
interest – fixed amount of money
 A free mаrket is generаlly dependent оn whаt type оf pоlitical system?   
Sales journals page reference – (s1) referes to what page the information was obtained from in the sales journal
accumulated depreciation account is always called a – "contra account"
c – A single-step income statement:
(a) reports gross profit.
(b) does not report cost of goods sold.
(c) reports sales revenues and "Other revenues and gains" in the revenues section of the income statement.
(d) reports operating income separately.
Journalizing – the process of recording business transactions in a journal
The asset cash is credited – when cash is spent in the acquisition of an asset the impact on the accounting equation is

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