| A | B |
|---|
| Accounts Receivable Turnover | Ratio of Accounts Receivable Collection |
| Accural Basis of Accounting | Basis that matches revenue and expenses when they happen |
| Accelarated Cost Recovery System | Mandated for tax purposes |
| Centralized Accounting System | Central office stores accounting records |
| Change Fund | used for small cash transactions |
| Closely held Corporation | company whose stock is not sold to the public |
| Consistancy Principal | applying the same accounting inventory costing methods from one perion to the next |
| Contra Account | account thats balance decreases another accounts balance |
| Discounted Notes Payable | deducting the interest on a note payable at the time the note is issued |
| Dishonored Note | promissary note that was note paid |
| FIFO | First in First out inventory method |
| Inventory | merchandise that a buisness has on hand |
| Liquidity | ease at which an asset can be converted to cash |
| Cash | the most liquid asset |
| notes receivable | a promissary note accepted by a person or buisness |
