"Glencoe Accounting: Real-World Applications & Connections," Vocabulary from Chapter 9

This list focuses on financial statements for a sole proprietorship (Unit 2, Chapter 9).

Here are links to all the chapters of Unit 2, The Basic Accounting Cycle: Chapter 3, Chapter 4, Chapter 5, Chapter 6, Chapter 7, Chapter 8, Chapter 9, Chapter 10, Chapter 11

Here are links to all the units of the first-year accounting textbook published by McGraw-Hill: Unit 1, Unit 2, Unit 3, Unit 4, Unit 5, Unit 6, Appendixes
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Full list of words from this list:

words only definitions & notes
  1. financial
    involving fiscal matters
  2. income
    the amount of money one makes over a period of time
  3. equity
    difference between value of a property and claims against it
  4. organize
    bring order to
  5. balance
    equality between the credit and debit sides of an account
  6. report
    a document describing findings of some individual or group
  7. ratio
    the relative magnitudes of two quantities
  8. analysis
    a detailed investigation or examination of something
  9. profitable
    yielding material gain
  10. current
    occurring in or belonging to the present time
  11. asset
    a useful or valuable quality
  12. liability
    an obligation to pay money to another party
  13. debt
    money or goods or services owed by one person to another
  14. capital
    assets available for use in the production of further assets
  15. liquidity
    being in cash or easily convertible to cash
  16. evaluate
    estimate the nature, quality, ability or significance of
  17. illustrate
    depict with a visual representation
  18. available
    obtainable or accessible and ready for use or service
  19. convert
    exchange or replace with another, usually of the same kind
  20. basis
    the fundamental assumptions from which something is begun
Created on Wed Oct 19 16:41:37 EDT 2016 (updated Fri Oct 21 17:42:59 EDT 2016)

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