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a snapshot of the firm's assets and liabilities at a given point in time.
the balance sheet
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assets are listed in oder of decreasing_____
liquidity
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difference between current assets and current liabilities. Let's you know how much money you have for business.
Networking Capital
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ability to convert to cash quickly without a significant loss in value.
liquidity
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the right side of the balance sheet, helps determine a fimr's financial future through stockholder's equity.
capital structure
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high profit margin
fixed asssets
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provides the book value of the assets, liabilities, and equity.
balance sheet
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the price at which the assets, liabilities, or equity can actually be bought or sold.
Market Value
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is more like a video of the firm's operations for a specified period of time.
income statement
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GAAP says to showe revenue when it accrues and match the expenses required to generate the revenue.
Matching Principle
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the percentagepaid on the next dollar earned. Associted with the federal government and changes constantly.
marginal tax rate
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total taxes paid divided by total taxable income
average tax rate
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expenses charged aganist revenues that do not directly affect cash flow, such as depreciation
noncash items
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