Financial Accounting

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The flashcards below were created by user Anonymous on FreezingBlue Flashcards.


  1. Revenue
    The profit that a business makes from operations
  2. Balance Sheet
    A formal statement of the assets, liabilities, and equity for one day a
  3. Income Statement
    A formal statement of the expense, cost of merchandise, and revenue for a period of time
  4. Cash flow
    A formal statement of the sources and uses of cash for cost from operations, investments, and other financial activities for a period of time
  5. Financial Statements
    • Balance Sheet 
    • Income Statement 
    • Cash Flow
  6. Unearned Revenue
    is a liability
  7. Merchandise
    Anything that is bought and resold for operations
  8. Revenue
    Profit that a company makes from operations
  9. Transactions
    Exchange of one value for another
  10. Account
    Business form used to show changes in the accounting equations

Card Set Information

Author:
Anonymous
ID:
328516
Filename:
Financial Accounting
Updated:
2017-02-15 02:24:55
Tags:
accounting
Folders:
Business
Description:
Chapters 1-3
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