"Glencoe Accounting: Real-World Applications & Connections," Vocabulary from Chapter 28

This list focuses on financial statements and liquidation of a partnership (Unit 6, Chapter 28).

Here are links to all the chapters of Unit 6, Additional Accounting Topics: Chapter 27, Chapter 28, Chapter 29

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
15 words 2 learners

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Full list of words from this list:

words only definitions & notes
  1. partner
    an associate in an activity or endeavor of common interest
  2. equity
    the ownership interest of shareholders in a corporation
  3. dissolution
    the termination or disintegration of a relationship
  4. liquidate
    convert into cash
  5. termination
    the act of ending something
  6. convert
    exchange or replace with another, usually of the same kind
  7. assets
    anything of material value owned by a person or company
  8. distribute
    give to several people
  9. transaction
    conducting business within or between groups
  10. gain
    the amount by which revenue exceeds the cost of operating
  11. withdraw
    remove (a commodity) from (a supply source)
  12. remainder
    something left after other parts have been taken away
  13. role
    the actions and activities assigned to a person or group
  14. duty
    work you are obliged to perform
  15. disparity
    inequality or difference in some respect
Created on Wed Oct 19 17:30:29 EDT 2016 (updated Fri Oct 21 17:32:34 EDT 2016)

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