What is Assets, Liabilities & Owners' Equity accounts
100
What is the formula for revenue?
What is Prices of goods sold x units = revenue
100
What does GAAP stand for?
What is Generally Accepted Accounting Principles
100
How does a company best learn of past activity?
What is cash inflows and outflows
200
Your computer after you have paid off all fees
What is owner's equity
200
What is the formula for Profit?
What is Profit= Total revenue - Total expenses
200
A debt payable within 1 year
What is current liability
200
What is a sign of good financial health in a company?
What is when cast inflows exceed cash outflows
300
A loan is categorized under which section of a balance sheet?
What is liability
300
What is the formula for Owner's Equity?
What is Assets – Liabilities = Owner's Equity
300
What is an account receivable?
What is money owed by customers to another entity in exchange for goods/services that have been delivered or used but not yet paid for?
300
What are three kinds of cash flows?
What is operational, investment, and financing
400
Revenue and gains cause this element on a company's balance sheet to increase
What is owner's equity
400
Define liabilities in terms of an equation
What is Liabilities = assets - owner's equity
400
What is Cash flow?
What is the movement of cash into or out of an account, a business or an investment
400
These fall under which type of cash flow: Issuing stock, paying down debt, and repurchasing shares
What is financing cash flows
500
These resources generate cash flow and are expected to provide a benefit for more than 1 year
What is fixed asset
500
ROI = ? + ?
What is Gain from investment – cost of investment
500
Define an income statement
What is a financial statement that summarizes the revenues, costs and expenses incurred during a specific period of time - usually a fiscal quarter or year.
500
What is the difference between investment cash flow and financing cash flow?
What is investment cash flows = cash received or spent through investing activities... while financing cash flows = cash received through debt or paid out as debt repayments