INTRO TO MANAGE 1

term used to refer to statements produced at the end of accounting periods

• Accounts
• Accounting Cycle
• Accounting
• Accrual

formula that is the basis of double-entry bookkeeping

• Accounting Equation
• Accounting Periods
• Management Equation
• Accrual

sequence in which data is recorded and processed

• Accounting Cycle
• Accounting Equation
• Accounting Periods
• Management Equation

example, Gross Domestic Product and Consumer Price Index.

• Economic Indicators
• Accounting Cycle
• Accounting Equation
• Accounting Periods

is that profit is the difference between revenue and the expenses incurred

• Accruals Concept
• Economic Indicators
• Accounting Cycle
• Accrued Expenses

Also referred to as the Quick

• Acid Test Ratio
• Accruals Concept
• Economic Indicators
• Accounting Cycle

items such as cash and equipment, can include intangibles such as goodwill.

• Asset
• liabilities
• Economic Indicators
• Accounting Cycle

A report that details the various assets and liabilities of a business

• Balance Sheet
• Bank Cash Book
• Asset
• liabilities

is the money invested in the business

• Capital
• Bank Cash Book
• Asset
• liabilities

Profit made on selling an asset for more than its original purchase price

• Capital Gain
• Capital Expenditure
• Capital
• Asset