Net contributions - PowerPoint PPT Presentation

Chapter 2

Chapter 2 Review of Accounting Here are the concepts discussed in this chapter: The income statement measures profitability. The price-earnings ratio indicates the relative valuation of earnings. The balance sheet shows assets and the financing of those assets.

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Trust Bank Accounts

Trust Bank Accounts. Defined. Not a real trust; just an account at a bank, credit union, or other financial institution . “A in trust for B.” “A, trustee for B.” Other terms: Totten trust Savings account trust Tentative trust. Ownership during T’s lifetime.

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