Problem Set 2 - time EX: A stock portfolio's net worth....

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Cost of Goods Sold- the direct costs attributable to the production of the goods sold by a company EX: The money it costs to make running shoes for Nike. Current Assets- an asset on the balance sheet which is expected to be sold or otherwise used up in the near future EX: Cash in a company bank account available for withdrawal. Retained Earnings- net income retained by the corporation rather than distributed to its owners as dividends. EX: Increases worth/equity of stocks in the company when dividends aren't utilized. Income Statement- tracks a company's revenues, gross profits, operating income or loss for the period of time being reported EX: A ledger Accrual Accounting- the adding together of interest or different investments over a period of
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Unformatted text preview: time EX: A stock portfolio's net worth. Cost Accounting- establishes budget and actual cost of operations, processes, departments or product and the analysis of variances, profitability or social use of funds. EX: It describes what surrounds an investment returning a higher value, like the risks of investing coupled with the rate of return and it helps to determine whether it is worth it. Taxes- Income Statement Net Sales- Income statement Plant and Equipment- Balance sheet Accrued Expenses- Balance sheet Earnings available to stockholders- Income Statement General/Administrative expenses- Income Statement...
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