ae @ scribd.com/docume + @ adverse Audit report indicating the auditor believes the overall Financial statements are so materially misstated or misleading that the statements do not fairly represent the financial postion or results of the operations and cash flows, The process of categorizing each account receivable by the number of days it has been outstanding. receivable Allowance A contra account, deducted from Accounts Receivable, that shows the for ‘estimated losses from uncollectible accounts Uneoltectible Accounts nnuity : A seties of equal amounts to be received or paid at the end of equal time intorvals, assets: Economic resources thal are owned or controlled by an entity Datance The financial statement that shows the asses, liabilities, and owners equity sheet of anenlity ata particular date. http:/vustudents.ning.com (statement of financial position): bank The process of systematically comparing the cash balance as reported by reconciliation he bank with the cash balance on the company's books and explaining any difference board of Individuals lected by the stockholders to govern a corporation. directors : ond: A contract beoween a borrower and a lender in which the borrower promises to pay a specified rate of interest for each period the bond is outstanding nd repay the principal at the maturity date ond The difference between the face value and the sales price when bonds are discount : sold below their face value Expenses that haye been paid or incurred in the course of business and that + are ordinary, necessary, and reasonable in amount An entity's reporting year, covering 12 months and ending on December 31 capital The excess of the selling price over the cost basis when asses, suel as securities and other personal and investment assets, are sold capital The portion of a corporation's owners’ stock: (owners) in exchange for shares of stock. -quity contributed by investors om Coins, currency, money orders, checks, and funds on deposit with financial institutions; the most liquid of asses, wsis A system of accounting in which trinsactions are recorded and reventes Mm 62 A Books. Audiobooks Documer