• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/7

Click to flip

7 Cards in this Set

  • Front
  • Back
Current assets
Cash and other assets reasonably expected to be converted to cash, consumed, or sold within one year or its normal operating cycle, whichever is longer
Investments
Assets not used in normal operations of business. Management does not plan to convert to cash in next year.
Property, plant, & equipment
Long-term tangible assets like land and buildings used in continuing operations
Intangible assets
Long-term assets with no physical substance like patents, copyrights, and goodwill
Current liabilities
Obligations due to be paid or performed within one year or within the normal operating cycle, whichever is longer
Long-term liabilities
Debts of a business that fall due more than one year in the future or beyond the normal operating cycle, which will be paid out of noncurrent assets
Gross Margin
Difference between net sales and cost of goods sold; also called gross profit