Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
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
Normal Size Small Size show me how
accounting vocab 5/2
vocabulary
| Question | Answer |
|---|---|
| net purchases | purchasesa less purchasediscount and purchase returns and allowances |
| net sales revenue | sales revenue less sales discount and sales returns and allowances |
| operating expenses | expenses other than the cost of goods sold thta are incurred in the entities major line in buisness ... ex. wages rent depreceation utilities |
| operating income | gross profit minus operating expenses plus any other operating revenues. also called income from operations |
| other expenses | expense that is outside to the main operations of a buisness such as loss on the sale of plant assets |
| other revenue | revenue that is outside the main operations of a buisness such as a loss on a sale of plant asset |
| other expenses | expenses that is outside of a main company |
| periodic inventory system | a system on which the buiness does not keep a continuous record of inventory |
| perpetual inventory system | the accounting inventory inventory system in which the buisness keeps az running record of inventory and cost of goods sold |
| sales | sales revenue |
| sales discount | reduction in the amount receivable from a coustomer offeered by the seller as an incentive for the customer to pay promptly |
| sales return and allowances | decreases in the sellers receivable from the |
Created by:
Dan Muszynski
Popular Military sets