The 12 month period which the business runs / reports to in a normal year (periods may be shorter in start and end year)
Total profit and /or loss from start of business to date .
The relationship between net income and average stockholders’ equity
The relationship between net income and average total assets
A comparison between two numbers showing how many times one number exceeds the other
Land and anything attached to the land
Cash received from the sale of assets during liquidation of a partnership
A business form giving written acknowledgement for cash received
See Estimated salvage value
Assigning control of business revenues, costs, and expenses as a responsibility of a specific manager
Financial statements reporting revenue, costs, and direct expenses under a specific department’s control
An endorsement restricting further transfer of a check’s ownership
A merchandising business that sells to those who use or consume the goods
Estimating inventory by using a percentage based on both cost and retail prices
Paying the amounts owed to bondholders for a bond issue
An entry made at the beginning of one fiscal period to reverse an adjusting entry made in the previous fiscal period
These are the amount of the business earned by selling its products or providing service to customers.
The possibility of loss; inherent in all business activities. High risk requires high return. All business decisions must consider the amount of risk involved.