Century 21 Accounting Chapter 6

Times Intrest Earned – Net Income + Intrest Expense + Tax Expense / Intrest Expense
capital – money that investers ,banks or business owners supply
Goods – anything tangible, you can touch, satisfy needs and wants
account payable – A liability backed by the general reputation and credit standing of the debtor.
liabilities 1 – forrás, passzíva
Cost variance;positive – unfavorable
manufacturing – makes products
Informal groups can be highly productive, but not more so than formal groups.
CPA – Accountant licensed by the state and offering services to the public
normal balance – the increase side of an account, the word normal here means usual
Infоrmаl grоups cаn be highly prоductive, but not more so thаn formal groups.
THEORY OF CONSTRAINTS – EFFECTIVELY MANAGING THE CONSTRAINT IS A KEY TO SUCCESS

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