What are 1) Service businesses, 2) Merchandising businesses, 3) Manufacturing businesses
100
These are items owned that have monetary value
What are assets?
100
These 3 items are found at the very top of the balance sheet.
What are 1) Name of business, 2) Name of the financial statement and 3) Statement date?
100
These are the components on income statement
What are revenue and expenses?
100
The Capital of the United States of America
District of Colombia
200
This is CPA stands for
What is Certified Public Accountant
200
This way the fundamental accounting equation is stated.
Assets=Liabilities +Owner's Equity
200
A balance sheet is prepared to in order to show this.
What is the financial position of a person or business?
200
TR-TE= NI
What is Calculation for Net Income
200
An American technology entrepreneur, visionary and inventor. He was the co-founder, chairman, and chief executive officer of a huge computer company and CEO and largest shareholder of pixar animation company
Who is Steve Jobs
300
These 3 business organizations use accounting.
What are 1)sole proprietorships, 2)partnerships and 3)corporations?
300
This line on the balance sheet refers to money owed by a company
What is Accounts Payable?
300
This accounting method is used to determine the financial strength, activity, or debt-paying ability of a business.
What is Ratio Anaylsis
300
The information needed to prepare a financial statement comes from where ?
What is a worksheet
300
Who created the famous painting known as the Mona Lisa
Leonardo da Vinci
400
This type of businesses operates to earn money for their owners.
What are For-Profit Businesses
400
This is the difference between total assets and total liabilities.
What is Owner's Equity?
400
These are 3 components on a balance sheet.
What are 1) Assets, 2) Liabilities and 3) Owner's Equity?
400
REVENUE accounts and a total, then EXPENSE accounts and a total, then NET INCOME on the bottom line. Remember to RULE.
What is the format of an income statement
400
This person's birthday is celebrated by a public holiday on the third Monday in January in the USA.
Who is Martin Luther King Jr.
500
A business organization that is recognized by law to have a life of its own. Requires a charter to start.
What is a Corporation
500
The owners claims to the assets of the business
What is Owners Equity
500
Allows business owners to examine the portion of each sales dollar that represents profit.