Financial Accounting Ch 1 Dj

Posting reference – Journal page numbers and ledger account numbers which, when present, confirms that an entry has been posted
Accounts payable – Current liabilities
odd lot – an amount of stocks that is not the usual trading number
taxes – operating costs, expenses
Cash Basis Accounting. – An accounting practice in which revenue is not recognized in the accounting records until received and in which expenses are not recognized until paid.
Account receivable turnover ratio – Net sales divided by average account receivables
Working Capital – assets available for use in the production of further assets
Direct Labor cost – use employees to convert materials into finished goods products.
The owner invests personal $ in the business, liabilities __ – No effect
Schedule of Accounts Receivable – A listing of customer accounts, account balances, and total amount due from all customers.
MULTI-ATTRIBUTE ANALYSISWhat is the highest total score a brand could possibly receive given the current set of attribute evaluations (ei)?
Closing Entries – Close out all revenue and expense accounts into retained earnings.
Increased – An entry on the credit side of a revenue account indicates the account has been
Consumer market – all customers who purchase goods and services for personal use
posting – the process of transfering information from the journal to individual general ledger accounts
investments and marketable securities – a financial instrument that is purchased for the purpose of earning money on the investment
Assets – Are items that are owned by a business and will provide benefits.
amortization – process by which the cost of an intangible asset is allocated to the acct. periods benefitted
MULTI-ATTRIBUTE ANALYSISWhаt is the highest tоtаl scоre а brand cоuld possibly receive given the current set of attribute evaluations (ei)?
post closing trial balance – a list of permanent accounts and their balances after a company has journalized and posted closing entries
Purchase invoice – a source document prepared by the seller listing the items shipped, their cost and the method of shipment (from the buyer's viewpoint).

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