Study sets matching "accounting terms chapter 9 advanced"

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Study sets matching "accounting terms chapter 9 advanced"

Advanced Accounting: Chapter 9
Partnership revenue and expense items
Mutual agency
S corporation
Limited partnership
Must be assigned directly each year to the individual partner…
Any partner can be held personally liable for all debts of th…
Legally considered a corporation, taxed as a partnership, onl…
A number of limited partners invest money as owners but are n…
Partnership revenue and expense items
Must be assigned directly each year to the individual partner…
Mutual agency
Any partner can be held personally liable for all debts of th…
35 terms
Chapter 9 Advanced Accounting
An artificial legal entity that has ri…
The owners of this artificial entity a…
List three advantages of a corporation
List two disadvantages of a corporation
Corporation
Stockholders
- liability is limited to their investment in the company... - s…
- requires more money and time to start ... - higher overall taxes
An artificial legal entity that has ri…
Corporation
The owners of this artificial entity a…
Stockholders
Advanced Accounting Chapter 9
Governmental, Proprietary, Fiduciary
Governmental Funds
Proprietary Funds
Fiduciary Funds
The Three Fund Types
General, special revenue, capital projects, debt service, per…
Enterprise, internal service
Pension trust, investment trust, private-purpose, agency funds
Governmental, Proprietary, Fiduciary
The Three Fund Types
Governmental Funds
General, special revenue, capital projects, debt service, per…
12 terms
Advanced Accounting Chapter 9
accrued expenses
date of a note
interest
interest expense
expenses incurred in one fiscal period but not paid until a l…
the day a note is issued
an amount paid for the use of money for a period of time
the interest accrued on money borrowed
accrued expenses
expenses incurred in one fiscal period but not paid until a l…
date of a note
the day a note is issued
12 terms
Advanced Accounting Chapter 9
accrued expenses
date of a note
interest
interest expense
expenses incurred in one fiscal period but not paid until a l…
the day a note is issued
an amount paid for the use of money for a period of time
the interest accrued on money borrowed
accrued expenses
expenses incurred in one fiscal period but not paid until a l…
date of a note
the day a note is issued
8 terms
Chapter 9 Part 1- Advanced Accounting
Derivatives
Financial Instruments
Futures
Spot Market
a financial instrument with value tied to or derived from the…
cash, evidence of an ownership in an entity, or a contract th…
-an agreement to buy or sell a standardized quantity of a com…
where actual sale and delivery of underlying happens
Derivatives
a financial instrument with value tied to or derived from the…
Financial Instruments
cash, evidence of an ownership in an entity, or a contract th…
CH 9: Advanced accounting
Financial Instruments
Derivatives
Futures
Futures (4 factors)
Cash or a contract that both imposes on one entity a contract…
1. tied to one or more UNDERLYINGS (interest rate, share pric…
standardized ,legally enforceable agreement between an invest…
1. standardized and exchange traded ... 2. normally close out pr…
Financial Instruments
Cash or a contract that both imposes on one entity a contract…
Derivatives
1. tied to one or more UNDERLYINGS (interest rate, share pric…
23 terms
CHAPTER 1 ACCOUNTING TERMS - ADVANCED
ASSET
LIABILITY
EQUITIES
OWNER'S EQUITY
Anything of value that is owned
An amount that is owed by a business
Financial rights to the assets of the business
The amount remaining after the value of all liabilities is su…
ASSET
Anything of value that is owned
LIABILITY
An amount that is owed by a business
Advanced Chapter 9
Promissory Note
Notes Payable
Date of a Note
Principal of a Note
A written and signed promise to pay a sum of money at a speci…
Promissory notes signed by a business and given to a creditor.
The day a note is issued.
The original amount of a note.
Promissory Note
A written and signed promise to pay a sum of money at a speci…
Notes Payable
Promissory notes signed by a business and given to a creditor.
15 terms
Advanced bio chapter 9 terms
Heredity
Trait
Pollination
Self-pollination
The transmission of characteristics from parents to offspring
A genetically determined variant of a charcteristic
When pollen produced in anthers of a flower are transferred t…
Pollination of that flower or another one on the same plant
Heredity
The transmission of characteristics from parents to offspring
Trait
A genetically determined variant of a charcteristic
15 terms
Advanced Accounting Chapter 1
Equity Method
Fair value method
Goodwill
Amortizing assets
Used whenever a company buys enough interest in a company to…
Used whenever the investor owns part of a company, but not en…
recognized when there is an access paid to acquire a company…
is considered a reduction in ownership under the Equity Metho…
Equity Method
Used whenever a company buys enough interest in a company to…
Fair value method
Used whenever the investor owns part of a company, but not en…
29 terms
Accounting Chapter 9 Terms
Merchandise
Merchandise Business
Retail Merchandising Busness
Wholesale Merchandising Business
Goods that a business purchases to sell
A business that purchases and sells goods
A merchandising business that sells to those who use or consu…
A business that buys and resells merchandise to retail mercha…
Merchandise
Goods that a business purchases to sell
Merchandise Business
A business that purchases and sells goods
43 terms
Accounting - Chapter 9 - Terms
Accounts payable ledger
Accounts payable trial balance
Articles of incorporation
Capital
The subsidiary ledger containing vendor accounts.
See schedule of accounts payable.
A legal document that identifies basic characteristics of a c…
The assets or other financial resources available to a busine…
Accounts payable ledger
The subsidiary ledger containing vendor accounts.
Accounts payable trial balance
See schedule of accounts payable.
31 terms
Advanced Accounting CH 9
Which one of the following is a reason…
Assuming that the bonus method was use…
Assuming that the goodwill method was…
The partnership of Adams and Washingto…
Partnerships avoid the double taxation of income that is foun…
$110,000
Goodwill: $180,000... Gaw's Initial Capital: $200,000
$90,000
Which one of the following is a reason…
Partnerships avoid the double taxation of income that is foun…
Assuming that the bonus method was use…
$110,000
29 terms
Accounting Chapter 9 Terms
merchandise
merchandising business
wholesale merchandising business
retail merchandising business
Goods that a business purchases to sell
A business that purchases and sells goods
A business that buys and resells merchandise to retail mercha…
A merchandising business that sells to those who use or consu…
merchandise
Goods that a business purchases to sell
merchandising business
A business that purchases and sells goods
14 terms
Advanced Accounting Chapter 2
Contingencies
3 different approaches to valuing assets
Professional Fees
Regulation Expenses
occur when there is a disagreement on the price between the i…
1: Market Approach, estimates fair values using other market…
accounting fees that are needed to get the fair value ready.…
require debiting of APIC, instead of debiting an expense
Contingencies
occur when there is a disagreement on the price between the i…
3 different approaches to valuing assets
1: Market Approach, estimates fair values using other market…
27 terms
Advanced accounting - chapter 1
What is a merger?
What is a business consolidation?
What is the pooling-of-interests method?
What is the acquisition method?
When an existing company acquires another company and combine…
2 or more companies join together to form one new continuing…
Records the assets and liabilities of the acquired firm at th…
Requires that all assets and liabilities be recorded at fair…
What is a merger?
When an existing company acquires another company and combine…
What is a business consolidation?
2 or more companies join together to form one new continuing…
36 terms
Chapter 9-Accounting Terms
Assets
Balance Sheet
Budget
Budget Report
Money and other valuables belonging to an individual or busin…
Summarizes the balances of assets, liabilities, and owner's e…
A plan of how money will be spent and what it will be spent on.
A report that compares actual sales or costs with the figures…
Assets
Money and other valuables belonging to an individual or busin…
Balance Sheet
Summarizes the balances of assets, liabilities, and owner's e…
7 terms
chapter 9 Accounting terms
component percentage
adjusting entries
permanent accounts
temporary accounts
The percentage relationship between one financial statement i…
journal entries recorded to update general ledger accounts at…
Accounts used to accumulate information from one fiscal perio…
accounts used to accumulate information until it is transferr…
component percentage
The percentage relationship between one financial statement i…
adjusting entries
journal entries recorded to update general ledger accounts at…
43 terms
Accounting - Chapter 9 - Terms
Accounts payable ledger
Accounts payable trial balance
Articles of incorporation
Capital
The subsidiary ledger containing vendor accounts.
See schedule of accounts payable.
A legal document that identifies basic characteristics of a c…
The assets or other financial resources available to a busine…
Accounts payable ledger
The subsidiary ledger containing vendor accounts.
Accounts payable trial balance
See schedule of accounts payable.
Chapter 9 Accounting Terms
merchandise
merchandising business
retail merchandising business
wholesale merchandising business
Goods that a business purchases to sell
A business that purchases and sells goods
a merchandising business that sells to those who use or consu…
A business that buys and resells merchandise to retail mercha…
merchandise
Goods that a business purchases to sell
merchandising business
A business that purchases and sells goods
accounting chapter 9 vocab
accounts payable ledger
articles of incorporation
capital stock
capital
the subsidiary ledger containing vendor accounts
a legal document that identifies basic characteristics of a c…
the total shares of ownership in a corporation
the assets of other financial resources available to a business
accounts payable ledger
the subsidiary ledger containing vendor accounts
articles of incorporation
a legal document that identifies basic characteristics of a c…
51 terms
Advanced Pathophysiology Chapter 9
Allergy
Hypersensitivity
Autoimmunity
Alloimmunity
The deleterious effects of hypersensitivity to environmental…
An altered immunologic response to an antigen that results in…
A disturbance in the immunologic tolerance of self antigens.…
Also called isoimmunity, occurs when the immune system of one…
Allergy
The deleterious effects of hypersensitivity to environmental…
Hypersensitivity
An altered immunologic response to an antigen that results in…
10 terms
Advanced Word Power Chapter 9
accolade
assuage
cacophony
censure
an expression of approval
to make less severe
unpleasant noise
disapproval
accolade
an expression of approval
assuage
to make less severe
27 terms
Advanced Reading Chapter 9
All the way up the line
Out of reach
Ethical
Resolution
to those with highest authority
Unobtainable
Morally good or accepted by a society or business
Answer
All the way up the line
to those with highest authority
Out of reach
Unobtainable
Chapter 9 Advanced Physio
Gray matter
Glucose
Choroid plexus
High level of aerobic metabolism
what is the most dramatic difference between the brains of ma…
The brain consumes about half of the ________ circulating in…
What is responsible for selectively transporting substances i…
Most neurons contain a large number of mitochondria. Which ch…
Gray matter
what is the most dramatic difference between the brains of ma…
Glucose
The brain consumes about half of the ________ circulating in…
22 terms
Advanced Math Chapter 9 Vocabulary
absolute value of a complex number
Argand plane
argument
cardioid
...
...
...
...
absolute value of a complex number
...
Argand plane
...
36 terms
Advanced Accounting 10E Chapter 4
Fiscal period
Fiscal year
Schedule of accounts payable
Schedule of accounts receivable
The length of time for which a business summarizes its financ…
A fiscal period consisting of 12 consecutive months.
A listing of vendor accounts, account balances, and the total…
A listing of customer accounts, account balances, and total a…
Fiscal period
The length of time for which a business summarizes its financ…
Fiscal year
A fiscal period consisting of 12 consecutive months.
29 terms
Chapter 9 Accounting Terms
merchandise
merchandising business
retail merchandising business
wholesale merchandising business
Goods that a business purchases to sell
A business that purchases and sells goods
a merchandising business that sells to those who use or consu…
A business that buys and resells merchandise to retail mercha…
merchandise
Goods that a business purchases to sell
merchandising business
A business that purchases and sells goods
15 terms
Accounting Chapter 9 Terms
Account Receivable
Recievables
Notes Receivable
Other Receivables
A claim against the customer credited by selling merchandise…
All money claims against other entities, including people, bu…
A customer's written promise to pay an amount and possibly in…
Interest Receivable, taxes receivable, and receivables from o…
Account Receivable
A claim against the customer credited by selling merchandise…
Recievables
All money claims against other entities, including people, bu…
20 terms
Chapter 9 Terms- Accounting
Retail Merchandising Business
Wholesale Merchandising Business
Corportation
Share of Stock
A merchandising business that sells to those who use or consu…
A business that buys and resells merchandise primarily to oth…
An organization with the legal rights of a person which many…
Each unit of ownership in a corportaion
Retail Merchandising Business
A merchandising business that sells to those who use or consu…
Wholesale Merchandising Business
A business that buys and resells merchandise primarily to oth…
10 terms
Advanced Word Power: Chapter 9
accolade
assuage
cacophony
censure
An expression of praise
To ease or lessen; to appease or pacify
A harsh, discordant mixture of sounds
Strong disapproval or official reprimand (n); to issue such d…
accolade
An expression of praise
assuage
To ease or lessen; to appease or pacify
Accounting Chapter 9 Terms
Merchandise
Merchandising Business
Retail Merchandising Business
Corporation
Goods that a business purchases to sell
A business that purchases and resells goods
A merchandising business that sells to those who use or consu…
An organization with the legal rights of a person which many…
Merchandise
Goods that a business purchases to sell
Merchandising Business
A business that purchases and resells goods
10 terms
Chapter 9 Accounting Terms
Merchandise
Merchandising Business
Retail Merchandising Business
Wholesale Merchandising Business
Goods that a business purchases to sell
A business that purchases and sells goods
A merchandising business that sells to those who use of consu…
A business that buys and resells merchandise to retail mercha…
Merchandise
Goods that a business purchases to sell
Merchandising Business
A business that purchases and sells goods
42 terms
chapter 9 accounting terms
merchandise
merchandising business
retail merchandising business
wholesale merchandising business
goods that a business purchases to sell
A business that purchases and sells goods
a merchandising business that sells to those who use or consu…
a business that buys and resells merchandise to retail mercha…
merchandise
goods that a business purchases to sell
merchandising business
A business that purchases and sells goods
41 terms
Accounting - Chapter 9 Terms
merchandise
merchandising business
retail merchandising business
wholesale merchandising business
goods that a business purchases in order to sell
a business that purchases and resells goods
a merchandising business that sells to those who use or consu…
a business that buys and reselss merchandise primarily to oth…
merchandise
goods that a business purchases in order to sell
merchandising business
a business that purchases and resells goods
Accounting Terms Chapter 9
merchandise
merchandising business
retail merchandising business
wholesale merchandising business
goods that a business purchases to sell
a business that purchases and sells goods
a merchandising business that sells to those who use or consu…
a business that buys and resells merchandise to retail mercha…
merchandise
goods that a business purchases to sell
merchandising business
a business that purchases and sells goods
41 terms
Accounting Chapter 9 Terms
merchandise
merchandising business
retail merchandising business
wholesale merchandising business
goods that a business purchases to sell
a business that purchases and resells goods
a merchandising business that sells to those who use or consu…
buys and resells merchandise primarily to other merchandising…
merchandise
goods that a business purchases to sell
merchandising business
a business that purchases and resells goods
15 terms
Accounting/Chapter 9: Terms
Financial Statements
Income Statement
Statement of changes in owner's equity
Balance sheet
Reports prepared to summarize the changes resulting from busi…
A report of the net income or net loss for a specific period;…
A financial statement that summarizes changes in the owner's…
A report of the balances in the permanent accounts on a speci…
Financial Statements
Reports prepared to summarize the changes resulting from busi…
Income Statement
A report of the net income or net loss for a specific period;…
Accounting Term - Chapter 9
Accelerated Depreciation Method
amortization
asset turnover ratio
book value
a depreciation method that expenses more of the asset's cost…
the process by which businesses spread the allocation of an i…
measures how efficiently a business uses its average total as…
a depreciable asset's cost minus accumulated depreciation
Accelerated Depreciation Method
a depreciation method that expenses more of the asset's cost…
amortization
the process by which businesses spread the allocation of an i…
19 terms
Accounting Chapter 9 Terms
Capital Stock
Cash Discount
Cash Payments Journal
Contra Account
Total shares of ownership in a corporation
A deduction that a vendor allows on the invoice amount to enc…
A special journal used to record only cash payment transactions
An account that reduces a related account on a financial stat…
Capital Stock
Total shares of ownership in a corporation
Cash Discount
A deduction that a vendor allows on the invoice amount to enc…
19 terms
Chapter 9 Accounting Terms
Capital Stock
Cash Discount
Cash Payments Journal
Contra Account
Total shares of ownership in a corporation
A deduction that a vendor allows on the invoice amount to enc…
A special journal used to record only cash payment transactions
An account that reduces a related account on a financial stat…
Capital Stock
Total shares of ownership in a corporation
Cash Discount
A deduction that a vendor allows on the invoice amount to enc…
Chapter 9 Accounting Terms
Merchandise
Merchandising business
Retail merchandising business
Wholesale merchandising business
Goods that a business purchases to sell.
A business that purchases and resells goods.
A merchandising business that sells to those who use or consu…
A business that buys and resells merchandise primarily to oth…
Merchandise
Goods that a business purchases to sell.
Merchandising business
A business that purchases and resells goods.
16 terms
Advanced Accounting Terms
Asset
Liability
Equities
Owner's Equity (O/E)
Anything owned entity with value
An amount or debt that a business owes
Financial rights to the assets of a business
Assets - Liabilities
Asset
Anything owned entity with value
Liability
An amount or debt that a business owes
29 terms
Accounting Chapter 9 Terms
Merchandise
Merchandising business
Retail merchandising business
Wholesale merchandising business
Goods that a business purchases to sell
A business that purchases and sells goods
A merchandising business that sells to those who use of consu…
A business that buys and resells merchandise to a retail merc…
Merchandise
Goods that a business purchases to sell
Merchandising business
A business that purchases and sells goods
20 terms
Accounting Chapter 9 terms
Articles of incorporation
capital stock
Authorized stock
Stock Certificates
describes the nature of the firm's business activities
total shares of ownership
the total number of shares available to sell
ownership of the company reinterpreted by a written document
Articles of incorporation
describes the nature of the firm's business activities
capital stock
total shares of ownership
32 terms
Advanced Features and Techniques (Chapter 9)
Justify Questions
How to Solve a Justify Question #1
How to Solve a Justify Question #2
How to Solve a Justify Question #3
Questions that ask you to select an answer choice that forces…
Isolate the result specified in the question stem.
Glance at the answer choices and ascertain the general nature…
Identify any rules or restrictions relevant to elements named…
Justify Questions
Questions that ask you to select an answer choice that forces…
How to Solve a Justify Question #1
Isolate the result specified in the question stem.
32 terms
Accounting Terms - Chapter 9
Plant asset
Depreciation
Cost principle
Land improvement
Long-lived, tangible asset, such as land, buildings, and equi…
The process by which businesses spread the allocation of a pl…
A principle that states that acquired assets should be record…
A depreciable improvement to land, such as fencing, sprinkler…
Plant asset
Long-lived, tangible asset, such as land, buildings, and equi…
Depreciation
The process by which businesses spread the allocation of a pl…
41 terms
Chapter 9 Accounting Terms
Merchandise
Merchandising business
Retail merchandising business
Wholesale merchandising business
Goods that a business purchases to sell.
A business that purchases and resells goods.
A merchandising business that sells to those who use or consu…
A business that buys and resells merchandise primarily to oth…
Merchandise
Goods that a business purchases to sell.
Merchandising business
A business that purchases and resells goods.
20 terms
Chapter 9 Accounting Terms
articles of incorporation
cash discount
contra account
controlling account
a legal document that identifies basic characteristics of a c…
a deduction that a vendor allows on an invoice amount to enco…
an account that reduces a related account on a financial stat…
an account in a general ledger that summarizes all accounts i…
articles of incorporation
a legal document that identifies basic characteristics of a c…
cash discount
a deduction that a vendor allows on an invoice amount to enco…
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