Term
| What are included in current assets |
|
Definition
| cash, accounts receivable, inventory, marketable securities, prepaid expenses and other liquid assets that can be readily converted to cash. |
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
| accounts receivable is... |
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
| What is the accounting equation |
|
Definition
|
|
Term
| How do you calculate Net Income |
|
Definition
| Subtract Revenues from expenses |
|
|
Term
| A statement of retained earnings includes what? |
|
Definition
Beginning balance+Net income
-dividends=ending balance |
|
|
Term
| What is the equation for net income ratio? |
|
Definition
| net income/total revenues |
|
|
Term
| What type of account do debits increase? |
|
Definition
| asset accounts...expense accounts |
|
|
Term
| What type of account do credits increase? |
|
Definition
| Liability and stockholder equity accounts... revenue accounts |
|
|
Term
|
Definition
| A place in which you store transactions |
|
|
Term
|
Definition
| Where all of the accounts are stored |
|
|
