Accounting

Liabilities either have a credit or no ..... at all.

The ..... is the difference between what a business pays for an item wholesale and what the business sells it for retail.

Cost accounting ..... managers toward company goals.

..... costs change in proportion to the level of production activity, while fixed costs remain unchanged.

The rules are intended to protect the rights of shareholders and creditors and, as a consequence, the ..... principle occupies an important place.

Tax laws reflect general principles of taxation, such as non-discrimination or taxation according to economic capacity, but also ..... such as availability of funds for payment of the liability and long-term profitability.

While the accounting standards used must be high quality, they also must be supported by an infrastructure that ensures that the standards are ..... interpreted and applied, and that issues and problematic practices are identified and resolved in a timely fashion.

High quality accounting standards are critical ..... the development of a high quality global financial reporting structure.

Also, the audit is an important element of the financial reporting structure because it subjects information in the financial statements to independent and objective ....., increasing the reliability of those financial statements.

In the case of market orders in the active bonds, whose prices are reported on the right side of the quotation board, the broker after noting the latest price on the board, goes directly to the bond ..... and effects a sale at the most favorable bid or asked price he can obtain.