Principals Of Accounting Chapter 10 Vocabulary

34. How many of the following transactions are operating activities?

Borrowed $50,000 from the bank
Purchased $12,000 in supplies
Provide services to customers for $27,000
Paid the utility bill of $750
Purchased a delivery truck for $12,000
Received $25,000 from issuing common stock

A. One.
B. Two.
C. Three.
D. Four. – C. Three.

bull market – market where stocks are rising
elements – categories of items
Account – A record summarizing all the information pertaining to a single item in the accounting equation.
stockbrokers – a broker that in addition to taking orders, also offers advice on investing.
Residual interest in the net assets of the enterprise. – Equity
ECONOMIC ENTITY ASSUMPTION – Each enterprise is kept as a unit distinct from its owner or owners.
What are factors that would decrease the risk of constipation?
Property-Plant-Equipment – Long-term Asset
All of the statements are true about the income statement EXCEPT the income statement:
A) data appears as revenues and expenses under Retained Earnings
B) Reports a net income or a net loss
C) Reports revenues and expenses
D) is as of specific date and not a period of time – D) is as of a specific date and not a period of time
Whаt аre fаctоrs that wоuld decrease the risk оf constipation?
Under the allowance method, estimated uncollectible receivables are credited to
A. Bad Debts Expense.
B. Accounts Receivable.
C. Allowance for Doubtful Accounts.
D. Uncollectible Accounts Expense. – C

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