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ACCT 2010

This class was created by Brainscape user Katie McKenna. Visit their profile to learn more about the creator.

By: Katie McKenna
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Decks in this class (15)

Chapter 1
Business organization owned by on...,
Business organization owned by tw...,
A separate legal entity owners of...
33  cards
Chapter 2
Economic resources presently cont...,
Measurable amounts that the compa...,
Owner s claim to the business res...
18  cards
Chapter 3
Include buying goods and services...,
Dividing the company s long life ...,
Records revenues when cash is rec...
8  cards
Chapter 4
True or false accounting systems ...,
Why are adjustments needed 2,
Income statements 3
22  cards
Chapter 5
An attempt to deceive others for ...,
Types of fraud 2,
Misusing one s position for inapp...
46  cards
Chapter 6
A series of activities that a com...,
Merchandisers report inventory as...,
Service companies earn revenue fr...
35  cards
Chapter 7
Journal entry to buy inventory 1,
Journal entry to sell inventory 2,
Inventory management decisions 3
30  cards
Chapter 8
Advantages of extending credit 1,
Disadvantages of extending credit 2,
If credit is extended the company...
37  cards
Exam 3 Review
Bad debt expense 1,
Percentage of credit sales equati...,
Interest equation 3
39  cards
Chapter 9
Assets that are used actively in ...,
Two major categories of long live...,
Long term assets that have physic...
72  cards
Chapter 10
Liabilities are created when a co...,
Short term obligations that will ...,
Initial amount of the liability 3
38  cards
Chapter 11
Major advantage of the corporate ...,
Other advantages of the corporate...,
Corporations can 3
59  cards
Chapter 12
The statement of cash flow focuse...,
The statement of cash flows shows...,
The statement of cash flows shows...
36  cards
Chapter 13
Are conducted to help financial s...,
Focus on important relationships ...,
Conducted to understand relations...
9  cards
Ratio Types
Net profit margin 1,
Gross profit margin 2,
Fixed asset turnover 3
13  cards

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ACCT 2010

  • Class purpose General learning

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