Examlex
An unfavorable cost variance occurs when the standard cost exceeds the actual cost.
Work Sheet
An informal document used by accountants and auditors for preparing financial statements and ensuring the correctness of accounts.
Post-Closing Trial Balance
A listing of all accounts and their balances after closing entries are made, serving as a check to ensure that debits equal credits.
Accounts Receivable
Money owed to a company by its customers for goods or services delivered but not yet paid for.
Retained Earnings Account
An equity account on the balance sheet that represents the accumulated net income of a company that has not been distributed to shareholders as dividends.
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