Intro To Accounting 20653 Exam 4 Laurie Wood Tcu

Estimated Annual Activity – Quantity of the activity required to make 1 unit
x Estimated total units manufactured during the year
= Total Estimated Activity
Sale on Account (charge sale) – Sale for which cash will be received at a later date
Net income – Amount by which revenues exceed expenses
GAAP – Generally Accepted Accounting Principles (measurement rules)
(cash flows) purchase of treasury stock – financing activitie (subtract)
International Accounting standards board (ISAB) – An accounting standard – setting body that issues standards adopted by many countries outside of the united states
accounting – planning, recording, and interpreting financial info.
expenses – Costs incurred in providing the goods and services offered
The existing balance in Allowance for Doubtful Accounts is considered in computing bad debts expense in the
A. direct write-off method.
B. percentage of receivables basis.
C. percentage of sales basis.
D. percentage of receivables and percentage of sales basis. – B
As described in the textbook, around what age can familial early-onset Alzheimer's disease most often cause an individual to develop symptoms?
patent – exclusive right to the use of an invented asset
Financial Statement Order – income statement, Retained Earnings, Balance Sheet
Note payable within a year – Current liabilities
Proprietorship – Owners equity
As described in the textbооk, аrоund whаt аge can familial early-onset Alzheimer's disease most often cause an individual to develop symptoms?
buisness's assets – aktywa biznesowe
Management Discussion and analysis (MD&A) – provides managements interpretation of the company's results and financial position as well as a discussion of plans for the future

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