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Accounting
Chapters 7,8,9
14
Accounting
Undergraduate 1
04/08/2013

Additional Accounting Flashcards

 


 

Cards

Term
patent
Definition
an exclusive right to manufacture a product or to use a process (iPhone circle button)
Term
copyright
Definition
an exclusive right of protection given by the U.S Copyright Office to the creator of a published work such as a song, film, painting, photo, book, or computer software
Term
trademark
Definition
A word, slogan, or symbol that distinctively identifies a company, product, or service
Term
Franchise
Definition
Local outlets that pay for the exclusive right to use the franchise or company's name and to sell its products within a certain region
Term
Goodwill
Definition
The value of a company as a whole, over and above the value of its identifiable net assets
Term
Addition
Definition
When we add a new major component to an existing asset
Term
Improvement
Definition
The cost of replacing a major component of an asset.
Term
Annuity
Definition
Cash payments of equal amounts over equal time intervals
Term
Compound Interest
Definition
Interest earned on the initial investment and on previous interest
Term
Discount Rate
Definition
The rate at which someone would be willing to give up current dollars for future dollars
Term
Future Value
Definition
How much an amount today will grow to be in the future
Term
Present Value
Definition
The value today of receiving some amount in the future
Term
Simple Interest
Definition
Interest earned on the initial investment only
Term
Time Value of Money
Definition
The value of money today is greater than the value
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