Accounts

profit and loss account – eredménykimutatás
memorandum – a brief written message that describes a tranaction
Contribution Margin Ratio – Percentage; Gives the amount as a percent of every sales dollar that is added to operating income when sales dollars increase.
receipt – A business form giving written acknowledgement for cash received
Quick assets – cash, marketable securities, accounts and notes receivable.
business – An organization in which basic resources (inputs), such as materials and labor, are assembled and processed to provide goods or services (outputs) to customers.
What applies to accounting – -Organizing
-Maintaining
-Recording
-Analyze financial activity
business in decline – negative cash flow from operating activities, positive cash flow from investing activities, and cash flow from financing activities that could be either positive or negative
worksheet – an expanded trail balance utilizing for computing, classifying, and sorting account balances before preparing the formal financial statements
inventory turnover ratio – cost of goods sold/ average inventory

Compute the effect size and interpret it via the table below: Small effect d < 0.3 Small-to-medium effect 0.3 ≤ d < 0.45 Medium effect 0.45 ≤ d < 0.6 Medium-to-large effect 0.6 ≤ d < 0.75 Large effect d ≥ 0.75[/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]historical cost – basic def – current value of everything that is exchanged items exchanged can be cash, another asset or liability that must be repaid, or a combination[/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]Transaction – Any business activity that changes assets liabilities or owners equity[/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]5.Material weakness – is a significant deficiency in internal controls that results in more than a remote likelihood that a material misstatement of the financial statements will not be prevented or detected.[/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]Доходы от предоставленных услуг – Fee income[/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]Making payments from a petty cash fund requires A. a credit to Cash. B. a credit to Petty Cash. C. a debit to various expense accounts. D. no accounting entry to record a payment when it is made from petty cash. – D[/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]Account – A separate record used to summarize changes in each asset, liability, and owner's equity of a business.[/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]quality of earnings – indicates the level of full and transparent information that a company provides to users of its 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]Cоmpute the effect size аnd interpret it viа the tаble belоw: Small effect d < 0.3 Small-tо-medium effect 0.3 ≤ d < 0.45 Medium effect 0.45 ≤ d < 0.6 Medium-to-large effect 0.6 ≤ d < 0.75 Large effect d ≥ 0.75[/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]The Objectivity Principle – -accounting will be recorded on the basis of objective evidence, not personal opinion -the source document is primarily the best objective evidence[/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]activity – action taken or work performed by equipment or people for other people.[/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 order – A form prepared by a business (buyer) and sent to another business (seller/supplier) to order items or services.[/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]Independent internal verification – Periodic, surprise reviews of all job functions. Done by someone unrelated in any way to people responsible for tasks being checked. This type of work is often done by an accounting professional known as an internal auditor[/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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