Leaving Cert Accounting Ratios

Corporation – an organization with the legal rightsof a person and which many persons may own
current asset – expected to be converted to cash or consumed within one year or an operating cycle, whichever is longer
Retained Earnings – 1. Owners Equity
2. Balance Sheet
3. Credit
4. Permanent
Financial accounting – provides information for external users such as lenders, shareholders, customers, etc
Debit – An amount entered on the left side of an account.
Chart of Accounts – official list of account titles to be used to record transactions of a business is
 7)   One key to understanding a character’s motivation is to look at it from the character’s point of view. A well-drawn character is always attempting to change negatives into positives. This is called __________.  
In a periodic inventory system, a return of defective merchandise to a supplier is recorded by crediting
A. Accounts Payable.
B. Inventory.
C. Purchases.
D. Purchase Returns and Allowances. – D
CURRENT LIABILITIES – DEBTS DUE TO BE PAID WITH CASH OR WITH GOODS AND SERVICES WITHIN ONE YEAR, OR WITHIN THE ENTITY'S OPERATING CYCLE IF THE CYCLE IS LONGER THAN A YEAR (UNCOMMON FOR LONGER THAN 1 YEAR)
international accounting standards board – an organization that issuse international financial reporting standards for many countries outside the u.s
posting – the process of transferring the debits & credits information from the journal to individual accounts in the general ledger.
A person who signs a check, ordering payment to be made is: – Endorser
 7)   One key tо understаnding а chаracter’s mоtivatiоn is to look at it from the character’s point of view. A well-drawn character is always attempting to change negatives into positives. This is called __________.  
"Investing Section" – section of statement of cash flows

cash related to buying and selling long-term assets used in the business

divided yield – temennü getirisi

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