WGU D102 financial accounting all terms COMPLETE
QUESTIONS AND ACCURATE DETAILED
ANSWERS\VERIFIED 100% ALREADY GRADED A+ LATEST
UPDATE FOR 2026-2027
bad debt expense
an account that represents the portion of the current period's
credit sales that are estimated to be uncollectible
bad debts
an uncollecible account receivable
balance sheet
a listing of an organization's assets and of its liabilities at a certain
time
bank reconciliation
the process of systematically comparing the cash balance as
reported by the bank with the cash balance on the company's
books and explaining any differences
,board of directors
individuals elected by the stockholders to govern a corporation
bonus
additional compensation beyond the regular compensation that is
paid to employees if certain objectives are achieved
book value
for a long-term operating asset, the asset's original cost less any
accumulated depreciation
business documents
records of transactions used as the basis for recording accounting
entries; include invoices, check stubs, receipts, and similar business
papers
calender year
an entity's reporting year, from January 1 to December 31
cash
coins, currency, money orders, checks, and funds on deposit with
financial institutions
,cash basis accounting
a system of accounting in which transactions are recorded and
revenues and expenses are recognized only when cash is
received or paid
cash collection
the recovery of cash from a business or individual with which you
have previously entered into a transaction
cash dividends
a cash distribution of earnings to stockholders
cash equivalents
short-term, highly liquid investments such as Treasury bills,
commercial paper, and money market funds
chart of accounts
a systematic listing of all accounts used by a company
, closing entires
entries that reduce all nominal (temporary) accounts to a zero
balance at the end of each accounting period, transferring their
pre-closing balances to a permanent balance sheet account
common stock
the most frequently issued class of stock; typically provides a
voting right but is secondary to preferred stock in dividend and
liquidation rights
compound interest
interest earned on you interest
compound journal entry
a journal entry that involves more than one debit or more than one
credit or both
consignment
an arrangement whereby merchandise owned by one party, the
consignor, is sold by another party, the consignee, usually on a
commission basis
QUESTIONS AND ACCURATE DETAILED
ANSWERS\VERIFIED 100% ALREADY GRADED A+ LATEST
UPDATE FOR 2026-2027
bad debt expense
an account that represents the portion of the current period's
credit sales that are estimated to be uncollectible
bad debts
an uncollecible account receivable
balance sheet
a listing of an organization's assets and of its liabilities at a certain
time
bank reconciliation
the process of systematically comparing the cash balance as
reported by the bank with the cash balance on the company's
books and explaining any differences
,board of directors
individuals elected by the stockholders to govern a corporation
bonus
additional compensation beyond the regular compensation that is
paid to employees if certain objectives are achieved
book value
for a long-term operating asset, the asset's original cost less any
accumulated depreciation
business documents
records of transactions used as the basis for recording accounting
entries; include invoices, check stubs, receipts, and similar business
papers
calender year
an entity's reporting year, from January 1 to December 31
cash
coins, currency, money orders, checks, and funds on deposit with
financial institutions
,cash basis accounting
a system of accounting in which transactions are recorded and
revenues and expenses are recognized only when cash is
received or paid
cash collection
the recovery of cash from a business or individual with which you
have previously entered into a transaction
cash dividends
a cash distribution of earnings to stockholders
cash equivalents
short-term, highly liquid investments such as Treasury bills,
commercial paper, and money market funds
chart of accounts
a systematic listing of all accounts used by a company
, closing entires
entries that reduce all nominal (temporary) accounts to a zero
balance at the end of each accounting period, transferring their
pre-closing balances to a permanent balance sheet account
common stock
the most frequently issued class of stock; typically provides a
voting right but is secondary to preferred stock in dividend and
liquidation rights
compound interest
interest earned on you interest
compound journal entry
a journal entry that involves more than one debit or more than one
credit or both
consignment
an arrangement whereby merchandise owned by one party, the
consignor, is sold by another party, the consignee, usually on a
commission basis
