Century 21 Accounting, 9e, Chapters 15-20

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Full list of words from this list:

words only definitions & notes
  1. earning per share
    the portion of a company's profit allocated to each outstanding share of common stock
    There are two ways to increase a company’s earnings per share: Either you increase the earnings, or you reduce the number of shares. Washington Post
  2. financial
    involving fiscal matters
    Well, yes, but we often don’t realize how much the economy and the financial world we live in shapes the course of our lives. The Guardian (Oct 26, 2014)
  3. ratio
    the relative magnitudes of two quantities
    To try to put numbers on it, we look at the price-to-income ratio, the price-to-rent ratio, and prices relative to their long-term trends. Forbes (Oct 1, 2014)
  4. gross profit
    the net sales minus the cost of goods and services sold
    The iPhone accounted for more than half of Apple’s revenue and the bulk of its gross profit. BusinessWeek (Sep 17, 2014)
  5. long-term
    relating to or extending over a relatively long time
    “Long-term care costs are the most serious financial risk facing older Americans today,” Johnson said. Washington Post
  6. par value
    the value of a security that is set by the company issuing it; unrelated to market value
    Here the bond yield is determined by the difference between the purchase price and the par value of the bond when it reaches maturity. US News (May 29, 2014)
  7. price-to-earnings ratio
    (stock market) the price of a stock divided by its earnings
    The S&P's price-to-earnings ratio is within historical norms, suggesting stocks are not overvalued, even at record levels. Reuters (Aug 27, 2014)
  8. support
    establish or strengthen as with new evidence or facts
    They are breathlessly short and he piles all the supporting information into a chapter at the end. Seattle Times (Oct 24, 2014)
  9. write off
    reduce the estimated value of something
    If there’s a crisis, optimists say, the government will step in and rescue lenders, writing off many of their bad loans. The New Yorker (Oct 21, 2014)
  10. assess
    estimate a property's value for taxation
    School officials say the bond proposal - an 11-cent levy for every $100 of assessed property value - would save local taxpayers money. Washington Times (Oct 25, 2014)
  11. decline
    change toward something smaller or lower
    Deflation is the opposite of inflation, and inflation is a decline in the value of money. Forbes (Oct 26, 2014)
  12. gain
    earn on some commercial or business transaction
    Caterpillar, 3M and Southwest Airlines also gained after reporting earnings that pleased investors. US News (Oct 23, 2014)
  13. personal property
    movable property (as distinguished from real estate)
    They had no personal property or real estate to divide and listed no retirement or pension benefits. Newsweek
  14. real property
    property consisting of houses and land
    The concept of real property is deeply implanted in us as the source and symbol of wealth. Travels with Charley in Search of America
  15. first in first out
    inventory accounting in which the oldest items (those first acquired) are assumed to be the first sold
    During the initialization of the listening command on the attacker’s machine, a file called a First in First Out pipe is created. Forbes (Oct 10, 2013)
  16. LIFO
    inventory accounting in which the most recently acquired items are assumed to be the first sold
    Under American law, companies can get a tax break only if they use “LIFO,” or last-in, first-out, on their published financial statements. New York Times (Jul 7, 2011)
  17. periodic
    happening or recurring at regular intervals
    You can also set up an automatic periodic transfer from your checking account to a separate savings or investment account. Forbes (Aug 8, 2014)
  18. perpetual
    uninterrupted in time and indefinitely long continuing
    What has disappeared is a perpetual stream of rising gas-tax money to build more highways. Seattle Times (Oct 21, 2014)
  19. weighted
    adjusted to reflect value or proportion
    Because consolidation interest rates take a weighted average of the underlying loan rates, borrowers no longer automatically get a lower rate by consolidating. US News (Oct 15, 2014)
  20. average cost
    total cost for all units bought (or produced) divided by the number of units
    According to the Department of Education, the average cost of tuition, room and board at a four-year college is $20,986 annually. US News (Aug 29, 2014)
  21. method
    a way of doing something, especially a systematic way
    Bartering is one of the oldest methods of getting things done for a reason. Forbes (Oct 23, 2014)
  22. creditor
    a person to whom money is owed by a debtor
    The trustee sells all the assets of the company and pays off the creditors as long as the money holds out. Washington Post
  23. note
    a promise to pay a specified amount on demand or at a certain time
    Mortgage rates loosely follow U.S. bond yields, which have been falling as investors continue to seek safety in Treasury notes. Washington Post
  24. interest
    a fixed charge for borrowing money
    After taxes — remember, interest paid in the U.S. is deductible to the borrower — that 2 percent spread costs the company only 1.3 percent. Washington Post
  25. interest expense
    interest paid on loans
    In early years, the interest expense would be higher than in later ones. New York Times (May 16, 2013)
  26. interest rate
    the percentage of a sum of money charged for its use
    The higher the interest rates the better, so long as the government can service its debts. Forbes (Oct 24, 2014)
  27. maturity date
    the date on which an obligation must be repaid
    Provided that nothing bad happens, like a bankruptcy, you cash in the bond on the maturity date and collect some interest. US News (Sep 5, 2014)
  28. note payable
    a note promising to pay a certain amount of money at a certain time
    But he made his note payable to a Company that was already sold out, so it ain’t good for nothin’. Lincoln, Joseph Crosby
  29. note receivable
    your right in a promissory note in which the maker promises to pay a certain amount of money at a certain time
    It also has money sitting around: Between cash, short-term investments, and accounts and notes receivable, BlackBerry itself says it has $5.2 billion. BusinessWeek (Sep 23, 2013)
  30. payee
    a person to whom money is paid
    And if you need a check they’ll print and send it to your old-fashioned payee free of charge. Forbes (Sep 4, 2014)
  31. principal
    the original amount of debt on which interest is calculated
    With 20 percent down, the principal and interest payment on that house is only $373 a month, at 4.25 percent. US News (Oct 24, 2014)
  32. promissory note
    a promise to pay a specified amount on demand or at a certain time
    The terms on the promissory notes—IOUs—which the Irish government used in 2010 to prop up its banks could be eased. Economist (Jan 3, 2013)
Created on Fri Oct 24 12:56:29 EDT 2014 (updated Mon Oct 27 07:00:47 EDT 2014)

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