ACC 250 Chapter 2 Flashcards
1
Q
Use of the accounting equations when recording a transactions?
A
(P 49)
2
Q
Impact of issuing stock on the accounting equations?
A
(P 50)
3
Q
Definition of current and long term assets?
A
(P 64)
4
Q
Definition of current and long term liabilities?
A
(P 64)
5
Q
Use of current assets and current liabilities - ability to pay?
A
(P 64)
6
Q
Current ratio?
A
(P 65)
Current Assets / Current Liabilities = Current Ratio
