Financial Statements
This financial statement shows a company's revenues, expenses, and profit over a period of time.
Income Statement
This ratio measures a company's ability to pay short-term obligations and is calculated by dividing current assets by current liabilities.
Current ratio
What is the term for money that is owed, but has yet to be received from customers
Accounts Receivable
This business structure is owned by one person and is the easiest to start
Sole Proprietorship
What is the world's biggest island? Excluding continents
Greenland
This financial statement shows what a company owns, owes, and the owner's claim on assets at a specific point in time.
Balance Sheet
What are the components of a SWOT analysis?
Strengths, Weaknesses, Opportunities, Threats
What is the accounting equation?
Assets = Liabilities + Equity
In this business structure, two or more individuals share ownership and profits
Partnership
What year did Minecraft officially debut?
2011
This financial statement explains the movement of cash through operating, investing, and financing activities.
CFS
This ratio measures a company's most liquid assets against its currentl liabilities
Quick
This measures how easily something can be converted to cash
Liquidity
This business structure provides limited liability protection to its owners while allowing pass-through taxation.
LLC (Limited Liability Company)
What is my zodiac sign?
Sagitarrius
Answer
Which ratio shows how much a company retains, in profits, from its sales?
Profit Margin
What accounting company what involved in the biggest corporate fraud of all time
Arthur Andersen
How are non-profits taxed differently than other business structures?
Tax exempt on profits
If you sailed directly East from Miami Florida, what country would you end up in?
Bahamas
An accounting error where total debits do not equal total credits violates this type of accounting system.
Double Entry Accounting
What industry would have the highest inventory turnover ratio?
Fast food (grocery)
What does FASB stand for?
Financial Accounting Standards Board
Delaware
Heads or Tails (if wrong, lose 500)
Answer