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Accounting Chapter 9

TermDefinition
Balance Sheet A report of the balances in the permanent accounts on a specific date.
Report Form A balance sheet format that lists classifications one under another.
Statement of Cash Flow A financial statement that summarizes the cash receipts and cash payments resulting from business activities during a period.
Ratio Analysis The process of evaluating the relationship between various amounts in the financial statements.
Profitability Ratio A ratio used to evaluate the earnings performance of a business during the accounting period.
Return on Sales A ratio that examines the portion of each sales dollar that represents profit; calculated by dividing net income by sales.
Current Assets The assets that are either used up or converted to cash during the normal operating cycle of the business.
Current Liabilities The debts of the business that must be paid within the next accounting period.
Working Capital The amount by which current assets exceed current liabilities.
Liquidity Ratio The measure of a business’s ability to pay its current debts as they become due and to provide for an unexpected need for cash.
Current Ratio The relationship between current assets and current liabilities; calculated by dividing current assets by current liabilities.
Quick Ratio A measure of the relationship between short-term assets and current liabilities; calculated by dividing the total cash and receivables by the current liabilities.
Created by: KSnyder23
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