Intro To Accounting 20653 Exam 2 Laurie Wood Tcu

shareholders
stockholders – Aktionär
Shareholders – Have the right subject to the by-laws to vote on corporate matters and to share in dividends, based on how many shares they own.
operating activities – the cash receipts and cash payments necessary to operate a business on a day to day basis
useful life – the length of service of a productive asset
Business entity – Bussiness are to be accounted for separately from other business entites
managerial accouting – yses both historical and estimated data in providing informationthat managemet uses in conducting daily operations in planning future operations and in developing overall business strategies
quick assets – cash, marketable securites,a ccounts,a nd notes receivable
endorser – a person or company whose name is written on the back of a check
Residual interest in the net assets of the enterprise. – Equity
Credit – The right side of a standard account
What happens when a star like the sun exhausts its core hydrogen supply?
What managerial accounting reports? – Detailed plans and continuous performance reports for internal decision makers, for managers
assets – items the company owns or controls, used to operate the business
External audit – An independent external observer to express whether the reports are a true and fair representation of the financial status
Whаt hаppens when а star like the sun exhausts its cоre hydrоgen supply?
Discount Example: 2/10, n/30 – Means: If pay in 10 days, get 2% discount; if doesn't pay within 10, has 30 days to pay with no discount.

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