current liabilities
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expected to settle within the first year of the date on the balance sheet
operating activities
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a company's typical daily processes that generate income
going concern assumption
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in the absence of info to the contrary, a business entity will continue to
operate indefinitely
prepaid expenses
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we paid cash for the purchase of an asset before we incurred the expense
4 types of adjusting entries
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prepaid expenses, unearned revenue, accrued expenses, accrued revenue
unearned revenues
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expected to settle within the first year of the date on the balance sheet
operating activities
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a company's typical daily processes that generate income
going concern assumption
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in the absence of info to the contrary, a business entity will continue to
operate indefinitely
prepaid expenses
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we paid cash for the purchase of an asset before we incurred the expense
4 types of adjusting entries
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prepaid expenses, unearned revenue, accrued expenses, accrued revenue
unearned revenues
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