Vertical analysis of the income statement expresses each item as a percentage of the ______________________ for the respective year.

UMMS Funeral Home forgets to pay their quarterly taxes. What is the penalty enforced by the state of Minnesota?

Purchases is a temporary account classified as a _________________________ account.

An invoice that states “FOB Destination,” means the buyer is responsible for and assumes all risk of the shipped items once ________________________.

UMMS Funeral Home receives an invoice with terms 2/10, n/30, which means _______________________________.

A ________________ is a document issued by the supplier that indicates a return or allowance was completed.

Using the _______________ method of handling uncollectible account expenses, losses from uncollectible accounts are recorded only when the specific customers’ accounts become uncollectible.

A schedule that divides accounts receivable into categories based on the length of time they are outstanding is called a(n) ________________________________.

The three sources of cash flow for a company include:

__________________________ is theft by employees or other trusted individuals within the business.