Provide people outside the business organization with information about the company's financial position and operating results?

An economic resource owned by a business and expected to benefit future operations

Past, present, or future payments of cash required (incurred) to generate revenues

The accounting principle that assumes that a company will operate in the foreseeable future is:

The use of money and credit controls to change macroeconomic activity is known as:

The Retained Earnings statement is based upon which of the following relationships?

Concept requiring profits of a business be matched at regular intervals in conjunction with accruals thru out life of a business?

Starts with using cash to purchase merchandise and ends with collecting the cash back from customers.

Contributes to the accuracy and verifiability of the accounting records.

The weighted average cost of capital (WACC); a firm's debt and equity financing is referred to as the firm's used in Corporate Capital Budgeting?

An example of a contra-asset account is?

Which statement is true about land?

The ability to pay the debts of the company as they become due

Provide users of financial statements with assurance that statements are verifiable and presented in conformity with GAAP

Best measure of an increase in actual output?

The assets, liabilities, and owners' equity of a business as of a particular date

Prepaid expenses appear?

If a corporation goes out of business, whose claims would be satisfied last, if at all?

The basic purpose of offering customers cash discounts such as 2/10, n/30 is to:

The four components of aggregate demand are?

Providing external FS users with information about financial position and operating results.

Unearned revenue appears?

What does double taxation mean?

Very liquid short-term investments such as <90 day Treasury Bills are referred to as?

The largest component of U.S. GDP is: