Choose the synonym
Uniformity (Accounting uniformity refers to the application of the same accounting policies, valuation methods, and reporting standards across different transactions, companies, or time periods)
a. inconsistency
b. flexibility
c. proportionality
d. homogeneity
e. disparity
homogeneity
A regulatory or advisory organization that makes rules or suggestions
a. advisory board
b. governing body
c. management
d. town hall
e. advisory committee
governing body
consistent
Ex: If something is consistent, it adheres to a certain standard without varying.
The accounting firm conductid a broad-scale audit to assess sistemic risks across the entire suply chain
The accounting firm conducted a broad-scale audit to assess systemic risks across the entire supply chain
a. _____ is a release of information.
b. The media is calling for full _____ of the events surrounding the politician's resignation.
a. Disclosure is a release of information.
b. The media is calling for full disclosure of the events surrounding the politician's resignation.
P&L (A P&L statement shows how much money an organization gained or lost in a certain period of time.)
a. balance sheet statement
b. cash flow statement
c. statement of shareholders’ equity
d. EBIT
e. income statement
income statement
The amount of money left when cost of goods sold is subtracted from sales revenue
a. net income
b. EBIT
c. gross margin
d. EBITDA
e. operating margin
*(EBIT) Earnings Before Interest and Taxes = operating income
**(EBITDA) Earnings Before Interest, Taxes, Depreciation, and Amortization
gross margin
taxes
Ex: Tax is money that individuals and businesses are required to pay to a government.
Net income are a amount of money that remain after all expenses have been deductid from taxes.
Net income is the amount of money that remains after all expenses have been deducted from sales revenue.
a. The _____ is the amount of money left when general and administrative costs are subtracted from the gross margin.
b. Because the manufacturer streamlined its production line, its _____ increased from 12% to 18%
*streamline=optimizar
a. The operating margin is the amount of money left when general and administrative costs are subtracted from the gross margin.
b. Because the manufacturer streamlined its production line, its operating margin increased from 12% to 18%
Liabilities (A liability is any amount of money that a company owes)
a. debt
b. accounting equation
c. asset
d. equity
e. expense
debt
The recorded amounts of sales for which a company has not yet received payment.
a. inventory
b. accounts payable
c. investment
d. accounts receivable
e. fixed assets
accounts receivable
accounts payable
Ex: Tesla ended the first quarter with a stretched balance sheet: Cash on hand was $2.2 billion, while accounts payable topped $3.2 billion
Owner's equities is the partial monetary value of a company. (Owner's equity = Q3 assets * Q2 liabilities)
Owner's equity is the total monetary value of a company. (Owner's equity = Total assets - Total liabilities)
a. An _____ is something of value that a company owns
b. Real estate is a valuable _____ for the company
a. An asset is something of value that a company owns
b. Real estate is a valuable asset for the company
Inflow (Inflow is cash coming into a company)
a. revenue
b. influx
c. income
d. salary
e. investment
influx
A person who has purchased a percentage of ownership of a company
a. stakeholder
b. creditor
c. owner
d. manager
e. stockholder
stockholder
outflow
Ex: To stabilize their finances, the retailer had to reduce operational outflows by renegotiating better rates with key suppliers
Cash flow is the process of money moving from a company to its employees.
Cash flow is the process of money moving into and out of a company.
a. A _____ is a portion of profits given to a stockholder based on what percentage of the company he or she owns.
b. The members of the co-op will receive their _____ at the end of the fiscal year.
a. A dividend is a portion of profits given to a stockholder based on what percentage of the company he or she owns.
b. The members of the co-op will receive their dividends at the end of the fiscal year
Plummet (To plummet is to decrease rapidly)
a. surge
b. devaluation
c. collapse
d. soar
e. rocket
collapse
To stay near a particular point
a. hover
b. plummet
c. skyrocket
d. settle
e. recover
hover
slightly
Ex: The accounting records showed that the Q3 profits were slightly higher than initially projected
To do someone sharply is to do it slowly.
To do something sharply is to do it rapidly.
a. To do something _____ means to do it at a constant, stable rate
b. Despite the strong winds, the hiker continued to climb _____ up the mountain
a. To do something steadily means to do it at a constant, stable rate
b. Despite the strong winds, the hiker continued to climb steadily up the mountain