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Financial Account 2

TermDefinition
Line of Credit ___________ is a current liability which permits borrowing from a financial institution up to a maximum amount.
Accrued Liabilities ____________ results from the recognition of an expense in the accounting records prior to the actual payment of cash.
Matching Principle ____________ is a fundamental accounting rule which aligns the cost with the associated sale in an income statement.
Stockholder's Equity ____________ refers to shareholders’ stake in the company as measured by accounting rules.
Preferred Stock Owners of _________________________ receive dividends on their investment before the holders of common stock and usually do not carry voting rights.
Dividends ________________ refers to funds distributed to shareholders taken from a company’s equity.
Common Stock Owners of ________________________________ typically carry voting rights for members of board and other matters put before the shareholders for a vote.
Par Value The amount listed on the balance sheet under common stock is based on the ____________________________ of the shares issued.
Additional Paid-in Capital ________________ reflects the amount by which the original sale price of stock shares exceeded par value.
Gross Profit ____________ reflects the money a company has coming in, going out, and the difference between them.
Generally Accepted Accounting Principles _____________ defines the standard for creating financial reports in the United States.
Gross Profit “Above the line or below the line” refers to above or below the ________________________ line.
Costs of Goods ____________ includes all the costs directly involved in producing a product or delivering a service.
EBIT ____________refers to gross profit minus operating expenses, which includes depreciation and amortization.
Created by: pvince