'Owning and owing' is another way to phrase the two basic terms?
What are "Assets and Liabilities"
100
This system of keeping track makes sure things are on the 'up and up' and balanced?
What is "Double-Entry Accounting?"
100
While not 'certifiable,' these professionals are often a business owners most trusted advisor?
What is a "Certified Public Accountant?"
100
You get this when you borrow, but had a different kind when you were in high school?
What is "Principal?"
100
Helpful to the business as well as banks and investors,these reports help a business predict how they will succeed in the future?
What are "Pro Forma Statements?"
200
Keeping these in a sloppy or inconsistent way often leads to a business' closure?
What are "Financial Records" (Accounting Records)
200
This method of keeping score requires recording this when money is received rather than when the service was incurred?
What is the "Cash-basis Method?"
200
In 1912, an 'act' helped create this - increasing control and stopping the run.
What is the "Federal Reserve System" (Bank)
200
When a business owner borrows but doesn't guarantee with an asset?
What is "Unsecured Debt?"
200
These heavenly bodies can sometimes be just what a new business needs?
What are "Angel Investors?"
300
While not 'certifiable,' these professionals are often a business owners most trusted advisor?
What is a "CERTIFIED PUBLIC ACCOUNTANT?" (CPA)
300
When a business takes a financial 'snapshot' comparing assets to liabilities?
What is the "Current Ratio?"
300
These rules of the road should not be confused with a big divide?
What are the "Generally Accepted Accounting Principles?"(GAAP)
300
A business may have good to sell, but under this lending arrangement, the business pays interest on the item until its sold and keeps the profit after paying back the loan.
What is "Floor Planning?"
300
Transfers of money in which the total amount repaid depends upon the changing interest rates?
What are "Variable Rate Loans?" (Lines of Credit)
400
Businesses often use these formulas to compare how they are doing in one with how they are doing in another?
What are "Financial Ratios?"
400
Taking a look at _________ helps a small business owner understand how quickly their goods are sold and replenished?
What is "Inventory Turnover?"
400
While they won't tell you how to behave at a dinner party, this groups monitors and determines the appropriateness of accounting rules and practices.
What is the "Financial Accounting Standards Board?" (FASB)
400
Smaller payments up front help cash flow, a big payment at the end can 'pop' a business' success?
What are "Balloon Loans?"
400
When businesses raise money through the sale of accounts receivable?
What is "Factoring?"
500
If it doesn't provide regular or expected income, or the taxpayer doesn't depend on this activity, the IRS may call it this?
What is a "Hobby Business?"
500
A business owner might measure their success by comparing what's left after paying taxes to the part of the business they fully own?
What is "Return of Equity?"
500
While seldom 'red,' this 2002 regulation helps protect investors from fraud. (Full name please)
What is the "Sarbanes-Oxley Act?" (SOX)
500
This type of loan comes with a partial guarantee from a distant uncle?
What is a "SBA Loan?"
500
Capacity, capital, and character are three of these?
What are the "Five C's of Credit?" (collateral, conditions)