RANDOMNESS
The financial information needed by managers and owners to make good business decisions can be found in these.
What is the general ledger accounts?
All financial information must be reported if managers and owners are to make good _______ ? (Two words)
What are business decisions?
This accounting concept is applied when financial statements contain all information necessary to understand a business's financial condition.
What is Adequate Disclosure?
This person or group is affected by ethical (and unethical) business action. A list of these people or groups provides a useful guide for individuals to search beyond themselves for the impact of their actions.
What is a stakeholder?
This is the name of a person who will either be visiting our classroom this semester or whom we will be visiting at his place of work uptown on Main Street, Nokomis, Illinois.
Who is Charlie O'Malley?
When a business is launched, this is the amount of time that one is typically expected to operate.
What is indefinitely?
A financial statement with incomplete information is similar to this.
What is a book with missing pages?
This is the collective process of identifying, analyzing, and recording the accounting events of a company.
What is the Accounting Period Cycle?
What is the percentage relationship between one financial statement item and the total that includes that item?
What is a component percentage?
This is the duration of time it took Kathy to earn her accounting degree.
For most businesses, an acceptable net income component percentage is to avoid being lower than this percent.
What is 45%?
This is a document that contains four sections; heading, revenue, expenses, and net income or net loss.
What is an income statement?
This accounting concept is applied when financial statements are prepared with the expectation that a business will remain in operation indefinitely.
What is a Going Concern?
A person with an interest or concern in something, especially a business, is known as a stakeholder. Give the generic name of the stakeholder in most, or hopefully, ALL of the students in this classroom.
What is a parent?
This prestigious position is conducted by Danielle DeWerff at her office in Springfield, where she spends her days combing thru insurance practices and policies.
What is an auditor?
Component percentages are found on this type of financial statement.
What is an income statement?
Its is possible for a company to earn revenue from multiple sources. When this happens, the business should create more than one of these types of revenue accounts.
What is sales?
What is the process of reporting the revenue earned and the expenses incurred to earn that revenue during the same fiscal period?
What is Matching Expenses with Revenue?
Suppose a business has a net income of $2,000 and total sales of $5,000. This represents the component percentage of the company's bottom line.
What is 40%?
What is Chief Financial Officer?
Who is the biggest stakeholder in an active, operating room?
Who is the person on the operating table?
Various industry organizations publish average percentages for similar businesses. This information is helpful for businesses who need to compare these particular values to other comparable business in order to interpret their performance levels.
What are component percentages?
On an income statement, one particular component percentage is calculated by dividing the amount of total expenses by this total amount.
What is sales?
If a company has this type of net bottom line, this particular component percentage will be less than the component percentage for expenses.
What is net loss?
This is the name of a teacher who spent many years at NHS and who likely taught a great number of your parents. She was well known for her love of the business world and well-prepared many for future studies in accounting. Her last name is the plural version of the first word of a popular game played by many young children who have to be careful to follow directions contingent upon two important words.
What is Mrs. Simons?