Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Chapter 8 vocab

QuestionAnswer
Must be reported if good business decisions are to be made ALL Financial Information
When financial statements contain all information necessary to understand a business's financial condition Adequate Disclosure
When changes in financial information are reported for a specific period of time in the form of financial statements Accounting Period Cycle
A financial statement showing the revenue and expenses for a fiscal period Income Statement
When revenue from business activities and expenses associated with earning that revenue are recorded in the same accounting period Matching Expenses with Revenue
1.) Heading, 2.) Revenue, 3.) Expenses, 4.) Net Income or Net Loss Income Statement sections
The percentage relationship between one financial statement item and the total that includes that item Component Percentage
When a business has multiple sources of revenue, multiple revenue accounts are needed Multiple Revenues
Indicates a negative amount Parentheses on Financial Statement
Reports financial information on a specific date, indicating the financial condition of a business Balance Sheet
Refers to its financial strength Financial Condition
1.) Heading, 2.) Assets, 3.) Liabilities, 4.) Owner's Equity Balance Sheet Sections
Balance Sheet = Accounting Equation BS = AE
Obtained from the work sheet's Account Title column Capital Account on Balance Sheet
Created by: echavez0195
Popular Accounting sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards