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Chapter 3 intermediate accounting
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What is another name for the balance sheet
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The statement of financial position
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greatZakyia
Terms in this set (11)
What is another name for the balance sheet
The statement of financial position
The balance sheet is typically reported.....
At the end of an economic period
The balance sheet consist of...
Assets, liabilities, and permanent equity
Financial flexibility is another term for
Long term solvency
Measures a company's ability to pay all its liabilities
Long term solvency
Measures the company's ability to convert its assets to cash to meet its current obligations
Liquidity
True or false: the book value is the same think as market value or fair value
False
True or false: current assets are listed in their order of liquidity
True
True or false: Long term assets are not listed in order of liquidity
False
Shareholders equity is also referred to as...
Net assets
What does AOCI stand for
accumulated other comprehensive income
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