Financial and Accounting Concepts: Key Terms and Definitions

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Finance - Personal Finance

jake12testoswi Created by 10 mon ago

Cards in this deck(20)

The total amount of money owed to a business is known as _____.

The true interest rate of a loan is referred to as the _____.

The percentage that annual dividend income is of the investor's total cost of stock is called _____.

The amount that your local government determines your property to be worth for tax purposes is the _____.

Things of value owned by a business or individual, such as property, furniture, and supplies, are known as _____.

Money owed to a person or business that is uncollectible is referred to as _____.

The amount of money remaining in an account is called the _____.

The amount on a check stub before a check is written or a deposit is made is known as the _____.

A financial statement that reports assets, liabilities, and owner's equity on a specific date is called a _____.

The process of comparing the bank's account balance with the company's or individual's balance, and explaining the differences to make them agree, is known as _____.

A report of deposits, withdrawals, and bank balances sent to a depositor by a bank is called a _____.

The merchandise a business has on hand at the beginning of a period is referred to as _____.

A person who receives the face value of a life insurance policy in the event the insured dies is called a _____.

A group of persons elected by the stockholders to manage a corporation is known as the _____.

The number of units that must be sold so that revenue from sales equals the total manufacturing cost is called the _____.

An estimate of income and expenditure for a set period of time is referred to as a _____.

An accounting period that begins on January 1 and ends on December 31 is known as a _____.

Checks that have been paid by the bank are referred to as _____.

A profit earned from the sale of property or of an investment is known as a _____.

The sale of an investment for less than its purchase price results in a _____.

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Financial and Accounting Concepts: Key Terms and Definitions

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