Business Law
Accounting
Financial Ratios
Professional Development
Surprise!
100
Businesses cannot enter into legally binding contracts with these people.
Who are minors?
100
The formula for this type of depreciation is this: (Cost of Asset - Residual Value)/Life Expectancy in years
What is straight line depreciation?
100
The formula for this is ratio is: Current Assets - Current Liabilities
What is working capital?
100
These bank employees deal directly with most customers and requires cash handling experience.
What are bank tellers?
100
The location for ICDC 2014.
What is Atlanta, Georgia?
200
This is an illegal type of pricing which charges different consumers different prices for the same item.
What is price discrimination?
200
This GAAP requires accountants to apply the same methods and procedures from period to period.
What is the Consistency Principle?
200
This is the formula for the Inventory Turnover Ratio.
What is Cost of Goods Sold / Average Inventory?
200
This new Canadian accounting designation has the American equivalent of Certified Public Accountant and shares the same acronym.
What is a Chartered Professional Accountant?
200
The date of the next DECA meeting.
When is January 9th, 2014?
300
This 1914 law sought to prevent anti-competitive practices.
What is the Clayton Antitrust Act?
300
List four typical assets in order of decreasing liquidity (from most liquid to least liquid).
What are Cash, Accounts Receivable, Inventory, Building, Land? (Any 4 in order)
300
Lenders often use this category of ratios to determine a business’s ability to repay debt.
What are leverage ratios?
300
This is an individual who arranges transactions between a buyer and seller of securities for a commission when the deal is executed.
What is a broker?
300
This company used today’s image of Santa Claus in its 1931 commercials and made him famous worldwide.
What is Coca-Cola?
400
This Act, which was used to prevent convergence between firms, was repealed by the Gramm–Leach–Bliley Act of 1999.
What is the Glass–Steagall Act?
400
This type of special journal is used to record transactions that involve sales on credit.
What is a sales journal?
400
This is a limitation of ratio analysis.
What is/are limited comparability, false results, effect of price level changes, ignoring qualitative factors, misleading results, high costs, effect of window-dressing, absence of universally standard ratios? (Any from the list)
400
These professionals evaluate the risk and exposures of potential clients and decide how much coverage the client should receive, how much they should pay for it, and whether even to accept the risk and insure them.
What are insurance underwriters?
400
This is a famous children’s Christmas story by Chris Van Allsburg which has since been made into a movie that ends with the line: “Though I've grown old, the bell still rings for me, as it does for all who truly believe.” Hint: It involves a train.
What is The Polar Express?
500
This U.S. federal agency regulates the impact of businesses on the environment.
What is the Environmental Protection Agency (EPA)?
500
The accounting scandal from this large telecommunications company was what led to 30,000 job losses and $180 billion in losses for investors, causing US Congress to pass the Sarbanes-Oxley Act of 2002.
What is Worldcom?
500
This is a disadvantage of a company having a high current ratio.
What is lack of reinvestment, poor capital management, or opportunity cost? (Any from the list)
500
This specialized type of accounting designation is especially designed for small businesses.
What is an Accredited Business Accountant?
500
List the names of the nine reindeer. Double the points if you can sing it.
Who are Dasher, Dancer, Prancer, Vixen, Comet, Cupid, Donner, Blixen, and Rudolph?
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