Review of Week 8 & 9

An ______is financial statements reported by a firm for less than one year (semiannually, quarterly, or even monthly basis) and normally reviewed by a company’s internal auditors rather than going for a complete statutory audit which would be impractical and time-consuming considering the frequency with which these reports are published.

• interim report

• annual report

• fiscal year

• income statement

_____ is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life.

• Market value

• Salvage value

• Book value

• Net realizable value

_____is money received by an individual or company for a service or product that has yet to be provided or delivered. It is recorded on a company’s balance sheet as a liability because it represents a debt owed to the customer.

• Accounts receivable

• Unearned revenue

• Prepaid expense

• Accounts payable

Translation：

累计折旧账户是一个有贷方余额的资产账户（也被称为备抵资产账户）。

____is a financial metric that is the difference between a company's curent assets and current liabilities.

• Operating cycle

• General ledger

• Working capital

• Vouchers