Flash cards for all the vocabulary words in
the REA Financial Accounting CLEP study guide. Includes all the
formulas, and the CLEP Clues in the text.
This set is for Chapter 3 - Making Money
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A financial statement analysis
technique in which one number is assigned as 100% and all other numbers
are expressed as a percentage of the first number. In balance sheets,
the key number is total assets. In income statements, the key number is
Type of account - Receivable, Prepaid, Investment, Inventory.
Asset account. Many asset
accounts merely list the name of the asset, such as "land" and
"equipment" without any special identifying word. Whenever CLEP
questions list an account without one of these key words, you should
assume that it is an asset account.
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