Partiel n°2

Question 1

Income Statment

Answer 1

Reflects a company’s trading results over a period of time and shows how the resulting profit was used or how the resulting loss was financed

• Trading account
• Profit and loss account
• Appropriation account

Question 2

Expenses that were incurred, but not paid, during an accounting period

Answer 2

Accrued expenses

Question 3

Obligations that are due more tha one year after the balancce sheet date

Answer 3

Long-term liabilities

Question 4

The total amount of profit pkloughed back into the business, after dividends have beenn paid, since the company’s start-up

Answer 4

Retained earnings

Question 5

Money owed to a bisoness from customers for goods or services sold on credit

Answer 5

Accounts receivable

Question 6

Intangible asset that represents the value of the well-respected name and reputation of a company

Answer 6

Goodwill, patents

Question 7

The cost of goods on hand that were purchased or manufactured or thaht are being manuffactured for sale to customers

Answer 7

Inventories

Question 8

Composed of, consist of

Answer 8

Be divided into, be made up of