Chapter 7
Something which similar to a bond.
Debenture
Chapter 8 explores the idea of present and _______ value.
future
The type of tax you pay on your salary
Income tax
Another word for 'guess'
estimate
Chapter 11 is called costs and __________ accounting.
management
A word which means twice a year
semiannually
What does TVM stand for?
Time value of money
Profits from the sale of assets maybe subject to this tax.
Capital gains tax
Without adequate internal controls, a campany can suffer ________ due to the theft or misuse of funds.
losses
Costs which always stay the same even if the number of items produced changes.
fixed
Chapter 7 is called 'Raising capital through ______'.
debt
A word which means to move downwards
decline
Tax _______ and tax ________ are both ways of trying not to pay tax.
avoidance and evasion
An external auditor's ________ is important because it lends credibility to the company's financial statements.
opinion
The cost of of paying workers to make the product
labour
the date when an investment, such as a bond, becomes due and is repaid to the investor.
Maturity date
Two types of interest
Simple and compound
If you do not need to pay tax you are _______.
exempt
An audit required by law is called a _________ audit.
statutory
Cost accounting uses functional _________ which looks at where each transaction comes from.
analysis
The extent to which a person or company is considered suitable to receive financial credit, often based on their reliability in paying money back in the past.
Creditworthiness
An irregular shifting up and down in the level, strength, or value of something (verb).
Fluctuate
A mistake in the law which allows people to avoid paying tax.
Loophole
What are the 2 key concerns of internal auditing?
asset security and personnel compliance
All the direct costs of manufacturing are referred to as _______ cost.
prime