CMBU 2665 Study Guide - Quiz Guide: C Corporation, Financial Statement, Absolute Advantage

• School: Fordham University
• Department: Communication and Media Management (Gabelli Undergraduate)
• Course: CMBU 2665
• Professor: Michael G.Priest

Document Summary

Absolute advantage the ability to produce a good using fewer inputs than another producer. Set of activities involved in converting information and individual transactions into financial statements. An equation showing the relationship among assets, liabilities, and owner"s equity. Assets = liabilities + owners equity accrual accounting. Accounting method that records revenues and expenses when they occur not necessarily when cash actually changes hands. Agreement in which one firm purchases another affective conflict disagreement that focuses on individuals or personal issues. Anything of value owner or leased by a business. Balance of trade the difference between a country"s total exports and total imports. Statement of a firms financial position on a particular date. Process of creating an identity in consumers minds for a good service or company; a major marking tool in contemporary business business incubators. Local program designed for new small businesses to find low cost facilities. An organization"s technology tools information and physical facilities.