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Flashcards - Business Accounting Overview

Flashcards - Business Accounting Overview
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quick ratio
In finance, the Acid-test or quick ratio or liquidity ratio measures the ability of a company to use its near cash or quick assets to extinguish or retire its current liabilities immediately
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Liquid assets
In business, economics or investment, market liquidity is a market's ability to purchase or sell an asset without causing drastic change in the asset's price
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Financial statement ratios
A financial ratio or accounting ratio is a relative magnitude of two selected numerical values taken from an enterprise's financial statements
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current ratio
The current ratio is a liquidity ratio that measures whether or not a firm has enough resources to meet its short-term obligations
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Accrual-basis accounting
Accrual of something is, in finance, the adding together of interest or different investments over a period of time
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accounting
Accounting or accountancy is the measurement, processing and communication of financial information about economic entities such as businesses and corporations
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accounting
Accounting or accountancy is the measurement, processing and communication of financial information about economic entities such as businesses and corporations
Accrual-basis accounting
Accrual of something is, in finance, the adding together of interest or different investments over a period of time
current ratio
The current ratio is a liquidity ratio that measures whether or not a firm has enough resources to meet its short-term obligations
Financial statement ratios
A financial ratio or accounting ratio is a relative magnitude of two selected numerical values taken from an enterprise's financial statements
Liquid assets
In business, economics or investment, market liquidity is a market's ability to purchase or sell an asset without causing drastic change in the asset's price
quick ratio
In finance, the Acid-test or quick ratio or liquidity ratio measures the ability of a company to use its near cash or quick assets to extinguish or retire its current liabilities immediately
cost
In production, research, retail, and accounting, a cost is the value of money that has been used up to produce something, and hence is not available for use anymore
Bookkeeping
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business
balance sheet equation
The basic accounting equation, also called the balance sheet equation, represents the relationship between the assets, liabilities, and owner's equity of a business
net realizable value
Net realizable value is a method of evaluating an asset's worth when held in inventory, in the field of accounting
Financial accounting
Financial accounting is the field of accounting concerned with the summary, analysis and reporting of financial transactions pertaining to a business
earnings per share
Earnings per share is the monetary value of earnings per outstanding share of common stock for a company

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