Part 3 The Balance Sheet Reveals the Most Flashcards
1
Q
Deferred Revenue
A
Money received for products or services that have not yet been delivered
2
Q
What are some long term liabilities
A
Laons, deferred bonuses or compensation, deferred taxes, and pension liabilities
3
Q
Owners’ equity
A
What is left after liabilities are subtracted from assets. Includes capital provided by investors and company profits
4
Q
Preferred Shares
A
Shares that are paid dividends at a fixed price and before any dividends are paid to the common stock holders. Preferred shares do not have voting rights and do not fluctuate in dividend value like common stock does.
5
Q
When is owner’s equity changed/affected on the balance sheet?
A
When a company takes in funds from the owners, pays out money to owners, or records a profit or loss.
