Basics
What is and Asset?
What is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit
What are some types of ratios (in accounting)?
What is Inventory turnover
What is Current Asset turnover
What is Accounts Receivables Turnover
What are some financial statements?
What are Balance Sheet, Income Statement, Statement of Shareholders Equity, Statement of Cash Flows
What are some accounting fields?
What are Forensic Accountant, Managerial accounting, financial planning, and Tax accounting
JEOPARDY!!! +100
JEOPARDY!!!+100
What is a Liability?
What is a company’s financial obligations, like the money a business owes its suppliers, wages payable and loans owing, which can be found on a business’ balance sheet.
How do you calculate Inventory Turnover? What are the correct units?
What is Inventory/365 days?
What accounts are found on the Income Statement?
What are revenues, depreciation expense, bad debts expense, or cost of goods sold?
What is a managerial accountant?
Who is a person that creates statements, reports, and documents that help management in making better decisions related to their business' performance.
What is the Average tax rate?
What is a percentage of how much we pay?
What is equity?
What is represents the shareholders' stake in the company
What is the net profit margin? What are the units?
What is Earning available to common stockholders / Sales. What is %.
What are some accounts found on the Balance sheet?
What are accounts receivables, cash, accounts payable or common stock?
What exam do you need to pass to become a Public Accountant?
Tax amount paid/ Taxable Income
Besides Assets, Liabilities and Equity.. What are some other titles the accounts are categorized by?
What are Revenues and Expenses?
What is the average collection Period? What are the units?
What is Accounts Receivable /(sales/365)? What are days?
BONUS!!!! +400
BONUS!!!!
What type of accountant uses accounting and analytical skills to investigate financial transactions of a person or business?
What is a forensic accountant?
What is Marginal Tax rate?
The change in the tax rate (the amount of tax paid on the next dollar earned)
What is a financial statement?
What is written records that convey the business activities and the financial performance of a company?
What is the Price per earnings Ratio? WHat are the units?
What is Market Value/ EPS? What are Times?
How do you calculate cash on the statement of Cash flows?
What is ( Total cash from Operating activity) +(- Total cash from Investing activity) + (-cash from Financing activity) +beginning cash balance?
What is the field where a person conduct's an official financial examination of (an individual's or organization's accounts).
What is the Auditing field
What is the FICA tax rate for medicare?
What is 1.45%?