Asset, Liability or Owners Equity
Reports
Ratios
Merchandise Inventory
General Accounting
100
Equipment
What is Asset
100
Where would you find income for a company
What is Income Statement
100
Current Ratio
What is Liquidity Ratio
100
Each inventory item has a specific cost
What is Specific Unit Cost
100
The Language of Business
What is Accounting
200
Draw
What is Owners Equity
200
What consists of Assets, Liabilities and Owners Equity
What is the Balance Sheet
200
Total Debt Ratio
What is Financial Leverage Ratio
200
The average cost per unit is assigned to cost of goods sold
What is Average Cost
200
Two fields of Accounting
What is Managerial and Financial
300
Accounts Receivable
What is Asset
300
Connects Income Statement with the Balance Sheet
What is Statement of Owners Equity
300
Profit Margin
What is Profitability Ratio
300
Assumes oldest items are sold first
What is First in First out
300
GAAP
What is Generally Accepted Accounting Principles
400
Salaries Expense
What is Liability
400
Shows the company's cash inflows and outflows over a period of time
What is Statement of Cash Flows
400
Total Asset Turnover
What is Efficiency Ratio
400
Assumes newest items are sold first
What is Last in First out
400
Assets are recorded at purchase price
What is Cost Principle
500
Unearned Delivery Fee
What is Liability
500
Market to Book Ratio
What is Investment Ratio
500
Which method is best
What is depends on industry
500
Assumption that a business will remain in operation for the foreseeable future
What is Going-Concern
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