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Money
Plata
Pesa
Geldemenge
l'argent
100
An Expense
What is a consumed asset
100
An expense that reduces a capital asset
What is depreciation
100
This is revenues minus expenses
What is income?
100
The process of writing off a cost of a wasting asset
what is depletion?
100
This is another name for paid-in capital
What is original investment?
200
These things are valuable, owned by an entity and acquired at a measurable cost
What are assets?
200
Cash received in advance of the time when services are rendered
What is deferred revenue?
200
This is a computer application which includes matrices of rows and columns
What is a spreadsheet?
200
This is the assumption that the entity will continue to operate indefinitely
What is the going concern concept?
200
When the expenses of a company are greater than the revenue
What is a shortfall?
300
Disregarding trivial matters and disclosing all important matters
What is the materiality concept?
300
These are distributions of earnings to shareholders
What are dividends?
300
This concept says that the revenue from sales is recognized from the time that they are delivered to the customer
what is the realization concept?
300
Recognizes increases in equity when they are reasonably certain
what is the conservatism concept?
300
Intangible assets that will become expenses in the future
What are pre-paid expenses?
400
The amount paid for the use of money
What is interest?
400
Paid-in capital and retained earning appear in this section of the balance sheet
What is equity?
400
Total current assets divided by total current liabilities
What is the formula for the current ratio?
400
Daily Double!!!!
This is the difference between current assets and current liabilites
400
The difference between book value and the amount of money realized from sale of an asset
What is gain or loss on the sale?
500
States that the costs of activities are matched with expenses from the same period
What is the matching concept
500
A Flow Report is also known as
What is an income statement
500
In general, the value of land, equipment and inventory are reported using this measure
What is cost?
500
Claims due in a short period of time, usually one year
What are current liabilities?
500
Expenses incurred but not yet paid for
What are accrued liabilities?