A comprehensive system for collecting, analyzing, and communicating financial information to the firm's owners, employees, and the public is known as...
What is Accounting
100
The accounting equation is know as....
What is assets= liabilities + owner's equity
100
The field of accounting that serves internal users of a company with financial information
What is managerial accounting
100
The ability to finance an investment through borrowed funds is known as
What is leverage
100
Various appliances and devices for creating, storing, exchanging, and using information in diverse modes, including visual images, voice, multimedia, and business data is known as
What is information technology
200
An individual that uses accounting for legal purposes is known as...
What is a forensic accountant
200
Gross profit would be found on which statement
What is the income statement
200
A systematic examination of the company's accounting system to determine whether its financial reports reliably represent it operations
What is an Audit
200
The financial ratio for evaluating management's efficiency in using the firm's assets is known as
What is the activity ratio
200
The application of electronic technologies for searching, sitting, and recognizing pools of data to uncover useful information
What is data mining
300
A salaried accountant hired by a business to carry out its day-to-day financial activities is known as
What is a private accountant
300
Financing and investing activities are found on which statement
What is the Statement of Cash Flows
300
Accounting guidelines that govern the content and form of financial reports
What is generally accepted accounting principles (GAAP)
300
Another calculation you will see as you develop your business plan is the return on equity. How would you calculate return on equity
What is net income/total owners equity
300
Daily Double
What is something that is produced by the intelect or mind that has commercial value?
400
State licensed individuals that offer accounting services to the public....
What is certified public accountant (CPA)
400
Current and long-term liabilities are found on which statement
What is the Balance Sheet
400
Daily Double
Strategic/Critical Thinking
Communication/Leadership Skills
Customer Focus
Interpreting/converging information
Technology skills
400
The profitability ratio measuring the net profit that the company earns for each share of outstanding stock is known as
What is earnings per share = net income/number of common shares outstanding
400
Unauthorized use of personal information to get loans, credit cards, or any other monetary benefit by impersonating the victim
What is identity theft
500
Individuals that use accounting to estimate returns to stockholders, determine growth prospects, and decide whether a firm is a good risk is known as...
What is an investor or creditor
500
Calculate gross profit and net income: Revenue 20,000, Cost of goods sold 8,000, Operating expenses 2,000, Taxes 2,000.
What is Gross Profit and Net Income
What is 12,000 for gross profit and 8,000 for Net Income
500
The amount paid for an existing business beyond the value of its other assets is known as what
What is Goodwill
500
Calculate solvency: Current Ratio when current assets = 20 billion and current liabilities - 2.5 billion
What is What is the current ratio of 8
Note: The higher the ratio the lower the risk: follows a 2:1 rule
500
The information system that supports knowledge workers by providing resources to create, store, use, and transmit new knowledge for useful applications