The two fundamental qualities of useful
information are
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verifiability
and timeliness.
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comparability
and flexibility.
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understandability
and consistency.
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relevance
and faithful representation.
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A liquidity ratio measures the
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ability
of a company to survive over a long period of time.
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percentage
of total financing provided by creditors.
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income
or operating success of a company over a period of time.
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short-term
ability of a company to pay its maturing obligations and to meet unexpected
needs for cash.
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If a company has overdrawn its bank balance,
then
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its
Cash account will show a debit balance.
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its
Cash account will show a credit balance.
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it
cannot be detected by observing the balance of the Cash account.
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the
Cash account debits will exceed the cash account credits.
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A list of accounts and their balances at a given
time is called a(n)
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journal.
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posting.
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trial
balance.
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income
statement.
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