101 Understanding The Accounting Equation, Debit And Credits

expense – a decrease in owne's equity resulting from the operation of a business.
Capital Expenditure – Items that will benefit the firm beyond the current year. These are reported in the Statement of Financial Position. Capital expenditure will create a non-current asset.
Electronic Funds Transfer (EFT) – Transferring funds from what one account to another
Issued Shares – The number of shares sold or distributed to stockholders.
Understandability – the quality of accounting information that makes sense to those with education in accounting
Sarbanes-Oxley Act – An act passed into law by Congress in 2002 to establish strict accounting and reporting rules in order to make senior managers more accountable and to improve and maintain investor confidence.
Managerial accounting information – Managerial accounting information is information that is used by managers to plan the running of a business. This information is used for planning purposes, implementation and control. Managers must plan for the future operation of the business. Managers must also implement these plans. They must also exercise control over the business and its employees.
Transactions are initially recorded in the: – A. General ledger
Resource Owners – control the distribution of resources to conversion agents

If X comes from a normal distribution that has mean 80 and standard deviation 20, what z-value would I need to look up in the standard normal table to find P(X < 68)?  In other words, P(X < 68) becomes P(Z < z) in the standard normal equivalent.  What is “z” in that case?[/panel-header] [panel-content][/panel-content] [panel-footer] [button style="btn-default btn-sm" icon="fa fa-search-plus" align="left" type="button" title="Show Answer"][button style="btn-default btn-sm" icon="fa fa-search-minus" alieft" type="button" title="Hide Answer"] [/panel-footer] [/panel][panel style="panel-primary"] [panel-header]unpacking – تفريغ أو الفتح[/panel-header] [panel-content][/panel-content] [panel-footer] [button style="btn-default btn-sm" icon="fa fa-search-plus" align="left" type="button" title="Show Answer"][button style="btn-default btn-sm" icon="fa fa-search-minus" alieft" type="button" title="Hide Answer"] [/panel-footer] [/panel][panel style="panel-primary"] [panel-header]Accounts payable is a/an – Liability account[/panel-header] [panel-content][/panel-content] [panel-footer] [button style="btn-default btn-sm" icon="fa fa-search-plus" align="left" type="button" title="Show Answer"][button style="btn-default btn-sm" icon="fa fa-search-minus" alieft" type="button" title="Hide Answer"] [/panel-footer] [/panel][panel style="panel-primary"] [panel-header]profit or loss statement – Gewinn- und Verlustrechnung[/panel-header] [panel-content][/panel-content] [panel-footer] [button style="btn-default btn-sm" icon="fa fa-search-plus" align="left" type="button" title="Show Answer"][button style="btn-default btn-sm" icon="fa fa-search-minus" alieft" type="button" title="Hide Answer"] [/panel-footer] [/panel][panel style="panel-primary"] [panel-header]SFAC No.6 (repl. No.3) Elements of Financial Statements – [/panel-header] [panel-content][/panel-content] [panel-footer] [button style="btn-default btn-sm" icon="fa fa-search-plus" align="left" type="button" title="Show Answer"][button style="btn-default btn-sm" icon="fa fa-search-minus" alieft" type="button" title="Hide Answer"] [/panel-footer] [/panel][panel style="panel-primary"] [panel-header]Monetary Unit Principle – The monetary unit principle requires that the accounting records are expressed in terms of money. Accounting reports should all be prepared using a single currency.[/panel-header] [panel-content][/panel-content] [panel-footer] [button style="btn-default btn-sm" icon="fa fa-search-plus" align="left" type="button" title="Show Answer"][button style="btn-default btn-sm" icon="fa fa-search-minus" alieft" type="button" title="Hide Answer"] [/panel-footer] [/panel][panel style="panel-primary"] [panel-header]Purchase return – A return of goods from the buyer to the seller for cash or credit.[/panel-header] [panel-content][/panel-content] [panel-footer] [button style="btn-default btn-sm" icon="fa fa-search-plus" align="left" type="button" title="Show Answer"][button style="btn-default btn-sm" icon="fa fa-search-minus" alieft" type="button" title="Hide Answer"] [/panel-footer] [/panel][panel style="panel-primary"] [panel-header]Rent Revenue – 1. Revenue 2. Income Statement 3. Credit 4. Temporary[/panel-header] [panel-content][/panel-content] [panel-footer] [button style="btn-default btn-sm" icon="fa fa-search-plus" align="left" type="button" title="Show Answer"][button style="btn-default btn-sm" icon="fa fa-search-minus" alieft" type="button" title="Hide Answer"] [/panel-footer] [/panel][panel style="panel-primary"] [panel-header]If X cоmes frоm а nоrmаl distribution thаt has mean 80 and standard deviation 20, what z-value would I need to look up in the standard normal table to find P(X < 68)?  In other words, P(X < 68) becomes P(Z < z) in the standard normal equivalent.  What is “z” in that case?[/panel-header] [panel-content][/panel-content] [panel-footer] [button style="btn-default btn-sm" icon="fa fa-search-plus" align="left" type="button" title="Show Answer"][button style="btn-default btn-sm" icon="fa fa-search-minus" alieft" type="button" title="Hide Answer"] [/panel-footer] [/panel][panel style="panel-primary"] [panel-header]assets – The economic resources of the entity and include such items as cash, accounts receivable (amounts owed to a firm by its customers), inventories, land, buildings, equipment, and even intangibles such as patents and other legal rights and claims.[/panel-header] [panel-content][/panel-content] [panel-footer] [button style="btn-default btn-sm" icon="fa fa-search-plus" align="left" type="button" title="Show Answer"][button style="btn-default btn-sm" icon="fa fa-search-minus" alieft" type="button" title="Hide Answer"] [/panel-footer] [/panel][panel style="panel-primary"] [panel-header]cash receipts journal – a book of original entries in which only cash receipts are recorded[/panel-header] [panel-content][/panel-content] [panel-footer] [button style="btn-default btn-sm" icon="fa fa-search-plus" align="left" type="button" title="Show Answer"][button style="btn-default btn-sm" icon="fa fa-search-minus" alieft" type="button" title="Hide Answer"] [/panel-footer] [/panel][panel style="panel-primary"] [panel-header]Types of internal controls – Preventative, Detective, Corrective[/panel-header] [panel-content][/panel-content] [panel-footer] [button style="btn-default btn-sm" icon="fa fa-search-plus" align="left" type="button" title="Show Answer"][button style="btn-default btn-sm" icon="fa fa-search-minus" alieft" type="button" title="Hide Answer"] [/panel-footer] [/panel]

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