Glossary of Terms
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- Working capital:
- A measure of liquidity; the amount by which total current assets exceed total liabilities.
- Working papers:
- Documents prepared and used by accountants to help them organize their work and to support the information in the financial statements.
- Work in Process Inventory:
- An inventory account that includes all manufacturing costs incurred and assigned to products tat are being produced.
- Work sheet:
- A type of working paper that is used as a preliminary step and tool in the preparation of financial statements.