Week 1 Accounting terms

What qualitative characteristic refers to the accuracy of information?

(a)   is the accounting term reflecting the amount of money owed to the business by customers.

Which of the followings is the correct accounting equation?

Which of the followings is NOT classified an ASSET?

The money owed by the business to a supplier is called _________

_______ refer to the operating costs that a business incurs to generate revenue.

________ is the accounting term referring to the money withdrawn by the owner of the business for his/her personal use.

________ is the reduction offered by a business to its customers to encourage prompt payments.

_______ is the cost of buying goods for resale or materials for production

The value of goods returned by the business to a supplier is known as _______