Accounting 2 Ch 17
Order by
7 terms
Terms | Definitions |
|---|---|
 accrual basis of accounting | The accounting method that records revenues when they are earned and expenses when they are incurred. |
| cash basis of accounting | The accounting method that records revenues when they are received and expenses when they are paid. |
| cash flows | The cash receipts and cash payments of a company. |
| statement of cash flows | A statement that summarizes cash receipts and cash payments resulting from business activities during a fiscal period. |
| operating activities | The cash receipts and payments necessary to operate a business on a day-to-day basis. |
| investing activities | Cash receipts and cash payments involving the sale or purchase of assets used to earn revenue over a period of time. |
| financing activities | Cash receipts and cash payments involving debt or equity transactions. |
First Time Here?
Welcome to Quizlet, a fun, free place to study. Try these flashcards, find others to study, or make your own.