Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
17 Cards in this Set
- Front
- Back
|
Account form of the balance sheet,
|
A balance sheet form showing assets on the left and liabilities and equity on the right.
|
|
|
Cost of goods sold
|
See cost of merchandise sold.
|
|
|
Cost of merchandise sold
|
The original price of all merchandise sold during a fiscal period.
|
|
|
Cost of sales
|
See cost of merchandise sold.
|
|
|
Current liabilities
|
Liabilities due within a short time, usually within a year.
|
|
|
Gross profit
|
See gross profit on sales.
|
|
|
Gross profit on sales
|
The operating revenue remaining after cost of merchandise sold has been deducted.
|
|
|
Income from operations
|
The operating revenue remaining after the cost of merchandise sold and operating expenses have been deducted.
|
|
|
Long-term liabilities
|
Liabilities owed for more than a year.
|
|
|
Net sales
|
The amount of sales, less sales discounts and sales returns and allowances.
|
|
|
Operating expenses
|
The expenses incurred by a business in its normal operations.
|
|
|
Operating income
|
See income from operations.
|
|
|
Operating revenue
|
The revenue earned by a business from its normal business operations.
|
|
|
Par value
|
A value assigned to a share of stock and printed on the stock certificate.
|
|
|
Report form of the balance sheet
|
A balance sheet form listing asset, liability, and equity accounts in a single column, one after the other.
|
|
|
Statement of stockholders' equity
|
A financial statement that shows changes in a corporation’s ownership for a fiscal period.
|
|
|
Supporting schedule
|
A report prepared to give details about an item on a principal financial statement.
|
