Century 21 Accounting, 9e, Chapters 4-7

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Full list of words from this list:

words only definitions & notes
  1. correct
    alter so as to achieve accuracy or conform to a standard
    “Some of the mistakes we were making earlier we’ve kind of corrected, but we still have a long way to go.” Washington Times (Oct 21, 2014)
  2. file
    a set of related records kept together
    They probably don’t care much about efficiency, but every manufacturer is spending millions convincing them to get a tablet for expense reports and file management. Time (Oct 23, 2014)
  3. maintenance
    activity involved in keeping something in good working order
    Additionally, the account maintenance fees and services charged by the brokerage also rose by 12% to $45 million during the quarter. Forbes (Oct 24, 2014)
  4. general ledger
    the ledger that contains all of the financial accounts of a business; contains offsetting debit and credit accounts (including control accounts)
    He kept his accounts with great care in a peculiar way, in a number of separate little books, without any general ledger. Darwin, Francis, Sir
  5. ledger
    a record in which commercial accounts are recorded
    If an industry is “dying” it would show in the ledger. Forbes (Oct 8, 2014)
  6. post
    transfer (entries) from one account book to another
    The airline posted revenue of $1.47 billion in the period, matching Street forecasts. Seattle Times (Oct 23, 2014)
  7. prove
    provide evidence for
    That information could prove embarrassing even for some banks that do not need to raise more capital. New York Times (Oct 24, 2014)
  8. cash
    money in the form of bills or coins
    And there’s a ton of cash on the S&P 500 balance sheet. Forbes (Oct 23, 2014)
  9. bank statement
    a periodic statement prepared by a bank for each client
    Yet the latest survey found that 16% of those questioned were unable to identify the balance on a bank statement. BBC (Aug 2, 2013)
  10. blank endorsement
    an endorsement on commercial paper naming no payee and so payable to the bearer
    He said lenders can transfer ownership of a mortgage by filling out the endorsement or leaving a blank endorsement. Washington Post (Mar 17, 2014)
  11. checking account
    a bank account against which the depositor can draw checks that are payable on demand
    What do you do when the amount of money in your checking account is less than the amount you need to pay all your bills? US News (Oct 21, 2014)
  12. code of conduct
    a set of conventional principles and expectations that are considered binding on any person who is a member of a particular group
    She said Ernst & Young's own code of conduct encouraged employees to consider whether their decisions were the most ethical they could make. BBC (Feb 25, 2014)
  13. debit card
    a card (usually plastic) that enables the holder to withdraw money or to have the cost of purchases charged directly to the holder's bank account
    Companies like Moven and Simple offer a combination of a debit card and a mobile phone app to help people track and control their spending. Forbes (Oct 18, 2014)
  14. dishonor
    refuse to accept
    “If this agreement is dishonored, how can you expect future agreements to be honored?” New York Times (Jan 2, 2014)
  15. electronic
    relating to or operating by a controlled current
    Stick with your list, and make sure to pay with a debit card or electronic check so you aren't adding to your debt load. US News (Oct 22, 2014)
  16. funds
    assets in the form of money
    The community has started a GoFundMe page to help raise funds. Washington Times (Oct 24, 2014)
  17. transfer
    send from one person or place to another
    The money will be transferred from countries that have paid too little in the past to countries that have paid too much. BBC (Oct 24, 2014)
  18. endorsement
    a signature that validates something
    He signed several endorsement deals, including a huge one with Nike. Washington Times (Sep 29, 2014)
  19. petty cash
    a small fund of cash that a firm keeps for the payment of incidental expenses
    The fines seem huge to us, but banks pay them from petty cash. The Guardian (Jul 21, 2012)
  20. slip
    a small sheet of paper
    “Deposit slips and checks can be coded to indicate the separate locations, as can the individual merchant terminals,” she says. BusinessWeek (Oct 20, 2014)
  21. postdate
    be later in time
    In Dubai buyers customarily pay for property by giving the seller a packet of postdated checks to be deposited later. BusinessWeek (Sep 11, 2014)
  22. restrictive
    serving to limit
    "By making tourism restrictive and expensive, the government will destroy the vibrant industry and ruin our business." Reuters (Oct 19, 2014)
  23. special
    adapted to or reserved for a particular purpose
    So a large portion of our bonuses was paid in special bank shares. The Guardian (Oct 23, 2014)
  24. adjustment
    amount added or deducted based on qualifying circumstances
    It was described as a technical adjustment based on the fact that in recent years Britain's wealth has increased more than others. BBC (Oct 24, 2014)
  25. balance sheet
    a record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets
    So the supermarket that shoved horsemeat in its burgers now admits to sprinkling horse manure on its balance sheet. The Guardian (Sep 29, 2014)
  26. fiscal
    involving financial matters
    This fiscal year, the agency is budgeted to spend just as much as it did last year. Washington Times (Oct 23, 2014)
  27. period
    an amount of time
    The five-year period refers to a measure passed in this year’s state budget, delaying the inclusion of Common Core scores in children’s transcripts. New York Times (Oct 24, 2014)
  28. income statement
    a financial statement that gives operating results for a specific period
    Or, to put it in corporate accounting terms, most Americans are all income statement and no balance sheet. Wall Street Journal (May 10, 2014)
  29. net income
    the excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)
    Once these businesses pay worker-related expenses, most of the leftover revenue could fall nearly directly to the net income line. Forbes (Aug 17, 2014)
  30. loss
    amount by which the cost of a business exceeds its revenue
    Amazon announced its worst quarterly loss in 14 years Thursday, losing $437 million in three months. Time (Oct 24, 2014)
  31. trial balance
    a balance of debits and credits in double-entry bookkeeping
    "There are certain details of the business which you don't understand, and you can't make out a correct trial balance without including those details." Optic, Oliver
  32. worksheet
    a sheet of paper with multiple columns
    IRS Form 8941, which employers must complete to claim the credit, has 25 lines and seven worksheets, the GAO said. Time (May 30, 2012)
  33. component
    something determined in relation to a thing that includes it
    "The biggest component is the expense side of the equation," said Scott Tilghman, an analyst at B. Riley & Co. in Los Angeles. Los Angeles Times (Oct 24, 2014)
  34. percentage
    a proportion in relation to a whole
    The collector market “is a fairly hefty percentage of the action figure market,” Byrne said. Seattle Times (Oct 21, 2014)
  35. stakeholder
    one who has an interest in something, especially a business
    In the case of the NFL those stakeholders are the owners of the 32 teams. Forbes (Sep 19, 2014)
Created on Fri Oct 24 12:07:29 EDT 2014 (updated Mon Oct 27 07:01:03 EDT 2014)

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