a certificate of deposit with interest payments that is placed with a bank for a specific period of time
What is a CD?
100
A financial statement that reports a corporation's assets, liabilities, and stockholders' equity on a SPECIFIC date
What is the balance sheet?
100
A financial statement that reports financial progress over a period of time.
What is the income statement?
100
A financial statement that summarizes the changes in a corporation's ownership for a fiscal period.
What is the statement of stockholders' equity (retained earnings)?
100
A dividend is declared by _____.
What is Board of Directors?
200
this rule can tell you approximately how long it will take for your investment to DOUBLE in value
What is the rule of 72?
200
All employees must report their withholding allowances on a _____.
What is a W-4.
200
Cash and other assets expected to be consumed within or exchanged for cash within one year
What is current assets?
200
Buying a company's bond, means you ________ to the company.
What is loaned money?
200
Assets expected to be exchanged for cash or consumed within a year are known as plant assets.
What is False?
300
The amount of net income after federal income tax belonging to a single share of stock
What is earnings per share?
300
An asset's book value is reported on a balance sheet by listing ____________
What is the balance of the asset account after deducting the contra account balance?
300
A listing of vendor accounts, account balances, and total amount due all vendors is a _____.
What is schedule of accounts payable?
300
Not putting all your eggs in one basket.
What is diversification?
300
Reporting financial information the same way from one fiscal period to the next is an application of the accounting concept ____.
What is Consistent Reporting?
400
PE ratio
What is market value divided by EPS?
400
Employers are required to furnish each employee with an annual statement of earnings and withholdings before_____.
What is January 31, the following year?
400
Represents the stockholders' total investment in the corporation
What is capital stock?
400
Recording Revenue from transactions at the time goods or services are sold is an application of the accounting concept _____.
What is Realization of Revenue?
400
The income summary has a normal debit balance.
What is false?
500
Par Value
What is a value assigned to a share of stock and printed on the stock certificate
500
When a work sheet is completed, a net loss will appear in the _____ (which columns).
What is Income Statement Credit and Balance Sheet Debit columns.
500
Preparing financial statements that provide information about a business's financial condition, changes in financial condition, and the progress of operations is an application of the accounting concept ________.
What is adequate disclosure?
500
The amount of cash received for a sale on account of $1000 plus sales tax of $80 when cash is received within the 2% discount period is _____.
What is 1058.40?
500
Journal entries used to prepare temporary accounts for a new fiscal period are called closing entries.