Accounting Chapter 5

receivables turnover – measures liquidity of receivables
Expenditures – The action of spending funds.
CM ratio – (CM/unit)/(Selling price/unit)
The things of value owned by a business are – Assets
Lessor – Party to a lease who grants another party (the lessee) the right to possess and use its property.
Net loss – The difference between total revenue and total expenses when total expenses is greater
What are the three types of Inventory? – 1) Raw material inventory
2) Work- in process inventory
3) Finished- goods inventory
Moving employees to other parts of the company or to other jobs the company needs filled to match its workforce with its talent needs is ________.
sole proprietorship – company with a single owner
Net Income – The difference between total revenue and total expenses when total revenue is greater.
Mortgage bond – Loan from a bank for a property
Mоving emplоyees tо other pаrts of the compаny or to other jobs the compаny needs filled to match its workforce with its talent needs is ________.
Issued stock for cash. Does this affect net income – Does Not Affect
callable bonds – can be reacquired by corporation before maturity date
owner's equity – the amount remaining after the value of all liabilities is subtracted from the value of all assets.

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