Question 1. Why notes before accounts payable?
Question 2. What is the drawing account?
Question 3. What is preferred stock?
Question 4. What is the retained earnings acct, and why does this acct play an important roll in equity on the financial?
Question 5. What is common stock and what role does this have on raising capital?
Question 6. What are some tax implications for corporations?
Question 7. So if an individual's business goes bankrupt, then "limited liability" would mean that the creditor's can't go after his personnel assets? Right?
Question 8. Secured bonds have specific assets of the issuer pledged as collateral for the bonds.
Unsecured bonds are issued against the general credit of the borrower.
Question 9. What are some specific assets that are "pledged"?
Question 10. Explain "perpetual life" (continuous life)?
Question 11. What are secured bonds? Unsecured bonds?
Question 12. How is a current liability listed on the balance sheet? in order of......
Question 13. The most liquid is cash then A/R, followed by inventory.....follow?