Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


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.
We do not share your email address with others. It is only used to allow you to reset your password. For details read 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.
Don't know
Know
remaining cards
Save
0:01
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards
share
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

Accounting - The Lan

QuestionAnswer
Primary reason to keep records is to know whether or not your company made a profit or a loss
Who Needs These Records? Manager and Owner
What are suppliers? Decide whether to extend credit
What is a Lender? Decide whether to lend a business money
What does the government have to do with accounting? Arrive at fair tax rates
What are Financial Statements? Reports that summarize financial data over a period of time
What is a Balance Sheet? Reports a business’s assets, liabilities, and capital on a specific date
Can you tell me the accounting equation? Assets = Liabilities + Capital
What are some examples of Assets? Cash&Accounts Receivable&Inventory&Buildings
What are some examples of Liabilities? Accounts Payable Loans Payable
What is a Capital? The amount an organization or individual is worth
What is the difference between Cash Flow and Working Capital? Cash Flow- Must have cash on hand to pay bills Working Capital-Determine if you are able to pay your debts
Created by: Jennyg141115