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Chp 9
Chapter 9
| Term | Definition |
|---|---|
| Income Statement | reports the net income or net loss for a specific period of time. |
| Statement of changes in owners equity | summarizes changes in owners capital account as a result of business transactions that occur during a period. |
| Balance Sheet | is a report of the balances in the permanent accounts at the end of the period. |
| Report form | listing the balance sheet sections one under the other |
| Statement of cash flow | summarizes, the amount of cash the business took in, the sources of cash, the amount of cash the business paid out, the uses of cash. |
| Ratio analysis | the process of evaluating the relationship between various amounts in the fiscal statements. |
| Profitability ratios | Are used to evaluate earnings performance of the business during the accounting period |
| return on sales | ratio to examine the portion of each sales dollar that represents profit |
| Current Assets | Are those used up or converted to cash during the normal operating cycles |
| Current Liabilities | are debts of the business that must be paid within the next accounting period |
| Working capital | The amount by which current assets exceed current liabilities |
| Liquidity ratio | Is a measure of the ability of a business to pay its current debts as they become due and to provide for an unexpected need for cash |
| Current ratio | reflects the relationship between current assets and current liabilities. |
| quick ratio | Is a measure o the relationship between short term assets and current liabilities. |
Created by:
Jdegolier16
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