Examlex
The double-entry accounting system records the dual effect of each transaction.
Vertical Analysis
A technique for analyzing financial statements where every item within the three key categories (assets, liabilities, and equity) on a balance sheet is expressed as a percentage of the total category value.
Administrative Expense
Expenses related to the general operation of a business, including salaries of non-sales personnel, rent, and utilities.
Net Sales
Net sales of a company, calculated by deducting returns, discounts, and allowances for damaged or missing products from its gross sales.
Unrealized Gain
Increases in the value of an asset that has not been sold, thus not yet generating actual cash income.
Q3: The gross profit amount is generally considered
Q11: NSF cheques received are accounted for by
Q28: Gross profit would be<br>A)$598,000.<br>B)$666,000.<br>C)$756,000.<br>D)$254,800.<br>
Q36: Accounting information should be neutral in order
Q36: An accountant has debited an asset account
Q37: Internal controls are concerned with all of
Q43: If total liabilities decreased by $134,000 during
Q84: An accumulated depreciation account<br>A)is a contra liability
Q105: Which of the following would be create
Q119: A trial balance usually<br>A)lists all the debit