ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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WORKING CAPITAL RATIO Definition
WORKING CAPITAL RATIO is working capital expressed as a percentage of sales.
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PURCHASE MONEY AGREEMENT is an agreement under which a person pledges the property or item bought as security.
OPINION PARAGRAPH is the paragraph in the audit report that expresses the auditor's
conclusions. The wording of the standard, unqualified opinion paragraph is: "In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of XYZ Company at December 31, year A, and the results of its operations and its cash flows for the year then ended in conformity with U.S. generally accepted accounting principles."