Ch 5 Accounting For Merchandising Operations

Receipt – a business form giving written acknowledgement for cash received
Modem – A device used to transmit data through telephone lines.
stock dividends – additional share of company's ow stock given to stockholders
Pay Period – The amount of time over which an employee is paid.
Face of Note. – The principal sum the maker of a note promises to pay.
Answerability – Sanctions must be coupled with this. Those who have the obligation to deliver should also have a binding duty to answer questions and explain themselves when things go wrong.
The primary purpose of a business is – Profit
debit – The action of recording an increase to an asset, expense, or divided account.
The debit side of the T-account is the – Left side
What is/are a factor in the acquisition of a nosocomial infection?
long term debt – a liability that falls due beyond one year from the date of the financial statements.
net sales equation – sales – sales discounts – sales returns and allowances = net sales
Expense – a decrease in owner's equity resulting from the operation of a business
Whаt is/аre а factоr in the acquisitiоn оf a nosocomial infection?
equity = – common stock – dividends + revenue-expenses

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