Chapter 9
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Financial statements | Summarizes the changes resulting from business transactions that occur during an accounting period.
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| Income statement | Reports net income or net loss
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| Statement of changes in owners equity | Summarizes changes in owners capital account as a result of business transactions
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| Balance sheet | A report of the balances in the permanent accounts at the end of the period.
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| Report form | Lists the balance sheet section one under the other.
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| Statement of cash flows | summarizes amount of cash taken in, sources of cash, amount cash removed.
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| Ratio analysis | process of evaluating the relationship between various amounts in the financial statements
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| Profitability ratios | evaluate the earnings performance of the business during an accounting period.
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| Current assets | used up or converted to cash during normal operating cycle.
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| Current liabilites | debts of the business that mus be paid within the next accounting period
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| Working capital | amount by which current assets exceed current liabilities
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| Liquidity ratio | is a measure of the ability of a business to pay its debt as they become due
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| Current ratio | Reflects current assets and liabilites
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| Quick ratio | Measure of the relationship between short term assets and current liabilites
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| Return on sales | examine the portion of each sales dollar that represents profit
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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