Accounting Chapter 9

Net Income + interest expense/ average total assets – Return on total assets
– amount of profit earned for ever 1 dollar of total assets
Footnotes – Complete documentation for a reference, formatted with superscripted numbers, which is placed at the bottom of the same page and preceded by a divider line.
T account – An accounting device used to analyze transactions
Describe the Impact That Constraints Have On Reporting Accounting Information (The constraints and their impact are as follows. (1) – (1) Cost constraint: The cost of providing the information must be weighed against the benefits that can be derived from using the information.
Accounting system – A planned process for providing financial information that will be useful to management.
documentation procedures – numbering checks
Hydrocarbons containing carbon-carbon triple bonds are
Gross Profit/ Net sales – Gross Profit Rate formula
Investors – Individual who has an ownership interest in the firm for corporations
A business entity owned by two or more people who are legally responsible for the debts and taxes of the business. – partnership
dishonored check – A check that the bank refuses to pay.
Hydrоcаrbоns cоntаining cаrbon-carbon triple bonds are
Direct expense – costs that are directly associated with revenue. COGS, Sales commission, shipping
operaciones especulativas – speculative transactions

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