3 terms

Intermediate Accounting Chapter 5

capital maintenance concept
a corporation's net income for a period of time is the amount that it could distribute to shareholders without depleting the capital the shareholders have invested
comprehensive income
the change in equity of a company during a period from transactions, other events, and circumstances relating to nonowner sources. It in
accrual accounting
company records the financial effects of transactions and other events in the periods when they occur rather than in the periods when it receives or pays cash