Exam (elaborations)
Basic accounting principles questions and answers.
- Course
- Institution
Basic accounting principles questions and answers.
[Show more]
Seller
Follow
BRAINBOOSTERS
Reviews received
Content preview
Basic accounting principles questionsand answers
Accounting - answer systematic recording, reporting and analysis of financial transactions
according
to accepted principles in order to provide meaningful financial information
Revenue - answer amount of money a business receives over a period of time
Operating Revenue - answer income from sales or services based on the goal of the business
Non-operating Revenue - answer income which does not come from the primary goal of
business
Sales Figures - answer represent the amount of revenue generated by the business
Cost of Goods Sold - answer cost directly associated with making or acquiring products
Gross Profit - answer subtracting the cost of goods sold from net sales figures
Income - answer required contribution for the support of a national, state or local government
calculated based on income tax
Operating Expenses - answer daily expenses incurred in the operation of a business
Fixed Expenses - answer expenses which are necessary, stable and occur regularly
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BRAINBOOSTERS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now