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Finance - Personal Finance

andrsonztdc Created by 10 mon ago

Cards in this deck(21)

What are the two primary functions of financial accounting?

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Which activities are measured by financial accounting?

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How is financial accounting information communicated through financial statements?

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What is the role of GAAP in financial accounting?

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What is the accounting equation?

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What is the equation for calculating net income?

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What are operating activities in the context of cash flow?

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What do investing activities include in financial accounting?

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What are examples of financing activities?

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What is the purpose of a trial balance?

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What information is included in financial statements?

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What happens to asset accounts when cash is used to buy equipment?

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Which accounts are considered asset accounts?

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What are examples of liability accounts?

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What accounts are included in stockholders' equity?

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What would be the effect on total assets if a company purchased land for $200,000 cash?

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What effect does the payment of dividends have on the accounting equation?

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What does the word 'debit' mean in accounting?

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Which account would be debited when a company pays $12,000 in advance for one year of rent?

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What is the definition of investing in relation to financial statements?

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What is the formula for calculating retained earnings?

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