Term
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Definition
tells the financial position of the firm at a point in time- assets, liabilities, and net worth
Illustrates Assets(A) = Liabilities(L) + Stockholders' Equity (SE) |
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Term
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Definition
| Summary of a firm's revenues and expenses over a period of time |
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Term
| Fundamental equation of accounting |
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Definition
| Assets = Liabilities + Stockholders' Equity |
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Term
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Definition
| ensure integrity of financial and accounting information |
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Term
| Social Security and Medicare |
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Definition
| Federal programs that provide benefits to retirees, disabled, and children of deceased workers |
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Term
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Definition
| earnings before interest, taxes, depreciation, and amortization |
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Term
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Definition
operating income
revenue - expenses (before interest and tax) |
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