4.01
What is a process or series of steps that businesses
complete to maintain their financial records effectively?
Accounting or Accounting Cycle
Accounting Cycle
What are financial obligations that will be repaid
within one year?
Current Liabilities or Long term Liabilities
Current Liabilities
In business, what function involves all money and money management matters?
Accounting or Finance
Finance
What is a business’s net income; the decisive point?
Timing or Bottom line
Bottom line
What are the 4 P's of Marketing?
Price, Place, Product, Promotion
or
Place, Price, Product, Personal Selling
Price, Place, Product, Promotion
What is a summary of accounting information?
Financial statement or Accounting standards
Financial Statement
What financial obligation will take the
business more than one year to repay?
Salaries Payable or Mortgage
Mortgage
What helps to set goals for the future and planning and controlling the company’s spending?
Accounting or Finance
Finance
What is the money it takes to keep inventory in stock?
Holding Cost or Revenue
Holding Cost
What is any nonpersonal presentation of ideas, goods, or services that is not paid for by the company or individual that benefits from or is harmed by it?
Publicity or Personal Selling
Publicity
What financial statement shows what a business owns, what it owes, and how much it is worth at a particular point in time?
Income Statement or Balance Sheet
Balance Sheet
What is calculated by subtracting a business’
liabilities from assets?
Net Worth or Net Gain
Net Worth
What is a finance activity involving making decisions
about financing;
Acquisition of funds or Administration of Assets
Acquisition of funds
What is the production activity that determines the sequence of the steps in the production process?
Timing or Routing
Routing
What is any paid form of nonpersonal presentation of ideas, goods, or services?
Advertising or Marketing
Advertising
What is anything of value that a business owns.
Assets or Liabilities
Assets
What is a monthly financial report for internal use that describes the flow of money into and out of the
business?
Income Statement or Cash Flow Statement
Cash Flow Statement
What is a sum of money paid to an investor or stockholder as earnings on an investment?
Stock or Dividends
Dividends
What is the production activity that establishes the timetable to be followed in production?
Scheduling or Timing
Scheduling
What Marketing element refers to what goods, services, or ideas a business will offer its customers?
Product or Place
Product
What are debts that the business owes?
Assets or Liabilities
Liabilities
What is a financial summary that shows how much money the business has made or has lost?
Income Statement or Cash Flow Statement
Income Statement
What is a finance activity involving making decisions
about a firm’s investments?
Acquisition of funds or Administration of Assets
Administration of Assets
What is ensuring the degree of excellence of a good or service?
Inventory control or Quality control
Quality control
What is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large?
Advertising or Marketing
Marketing