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Separate entity assumption - PowerPoint PPT Presentation

Exam 1 - Review

Exam 1 - Review. Chapter 1-4. Getting Started in Business. Nature of Business Activities Financing Borrow Note Payable Account Payable Bond Payable Issue Common Stock Investing Purchase Assets: inventory, equipment, land, building Operating Sell your product Revenue and expenses.

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Accounting Principles and Reporting Standards FLASHCARDS

Accounting Principles and Reporting Standards FLASHCARDS. Historical cost principle. Historical cost principle. The principle that requires assets to be recorded at their cost at the time they are acquired. Periodicity of income assumption. Periodicity of income assumption.

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Separate entity assumption - PowerPoint PPT Presentation

Exam 1 - Review

Accounting Principles and Reporting Standards FLASHCARDS