Arkansas Accounting II - Unit 4 vocabulary
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| additional paid-in-capital | capital received from investors in exchange for stock
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| amortization | to write off a portion of a bond discount or premium over the life of the bond issue
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| articles of incorporation | an application to organize a business as a corporation made to appropriate state officials
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| board of directors | a group of individuals, elected by stockholders, who govern and are responsible for the affairs of the corporation
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| bond | a long-term liability in which the corporation promises to repay a certain amount at a specified date and to pay interest at set time
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| bond issue | the total amount of bonds issued at the same time
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| bond sinking fund | a special fund used to pay off a bond issue when it comes due
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| charter | the approved articles of incorporation
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| common stock | a title given to stock when only one class is issued by the corporation
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| corporation | an artificial legal entity that has rights and responsibilities of its own
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| date of declaration | date on which a board of directors authorizes a dividend
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| date of payment | date on which a dividend is actually paid
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| date of record | one to two weeks date of declaration; stockholders owning stock on this date will receive a declared dividend
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| declaring a dividend | action by a board of directors to distribute corporation earnings to stockholders
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| discount on capital stock | the amount by which the face value of a bond exceeds the issue price of the bond
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| earnings per share | a measure of the amount of profit that could be assigned to each share of common stock; calculated by dividing net income by the number of outstanding shares of common stock
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| equity per share | the amount that would be paid on each share of stock if the corporation liquidated and the assets were sold for their book value; calculated by dividing the total stockholders' equity by the number of shares of common stock outstanding
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| intangible assets | long-lived assets that have no physical substance
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| market value | the current price that is being charged for an item in the marketplace
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| no-par-value stock | stock that does not have a value printed on the stock certificate
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| organization costs | cost directly related to establishing a corporation
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| purchases available for sale | the total amount of beginning inventory in addition to purchases added during a period of time
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| par value | a value assigned to a share of stock and printed on the stock certificate
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| par-value stock | stock that has a specific value printed on the stock certificate
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| preferred stock | stock that has preferences over common stock, usually in relation to dividends
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| price-earnings ratio | a measure used to determine whether the market price of a corporation's stock is reasonable; calculated by dividing the market price per share by the earnings per share
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| rate earned on average stockholders' equity | the relationship between net income and average stockholders' equity
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| rate earned on average total assets | the relationship between net income and average total assets
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| retained earnings | the accumulated profits of a company
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| retiring a bond issue | paying the amounts owed to bondholders of a bond issue
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| serial bonds | a bond issue that has a series of maturity dates
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| stated-value stock | the value assigned to a share of no-par stock by the board of directors
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| statement of cash flow | a financial statement that shows a company's incoming and outgoing money during a time period (often monthly or quarterly)
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| stock certificate | a document showing how many shares of corporation stock are owned
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| subscribing for captial stock | the process of selling stock to investors on an installment basis
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| term bonds | a bond issue in which all bonds have the same term or maturity date
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| treasury stock | stock that has been issued by a corporation and then reacquired and held
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| trustee | a bank appointed to ensure that a corporation fulfills all its responsibilites to bondholders
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