Financial Account 2 Word Scramble
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Term | Definition |
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. |
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