entity that is formed and administered as per commercial law in order to engage in business activities, charitable work, or other activities allowable
What is business entity
100
A commercial enterprise that provides work performed in an expert manner by an individual or team for the benefit of its customers
What is Service business
100
the process of recording, summarizing and reporting the myriad of transactions from a business, so as to provide an accurate picture of its financial position and performance.
What is finance function
100
on what financial statement can we find the net income of a business
What is income state
100
Current assets /current liabilities
What is current ratio
200
basic underlying assumption in accounting. The assumption is that a company or other entity will be able to continue operating for a period of time that is sufficient to carry out its commitments, obligations, objectives, and so on.
What is a going concern
200
a business that purchases inventory and resells it to customers for a profit.
What is a merchandiser
200
critical component of employee well-being in any business, no matter how small. responsibilities include payroll, benefits, hiring, firing, and keeping up to date with state and federal tax laws.
What is human resource function
200
One a bank reconciliation what item can affect the banks cash balance
What is deposit and transit
200
Gross margin/ net sales. This ratio measures how profitable a company sells its inventory or merchandise. In other words, the gross profit ratio is essentially the percentage markup on merchandise from its cost.
What is Gross Margin Ratio
300
states that you only record business transactions that can be expressed in terms of a currency.
What is Monetary unit
300
Statement used in accounting process of a manufacturing organization. This financial statement does not show profit and loss figures but rather the cost of direct materials and labor.
What is manufacturer
300
a role which helps a company to identify and source potentially successful products for the marketplace they operate on and then promote them by differentiating them from similar products.
What is marketing function
300
on a bank reconciliation what items can effect the business checking account balance
What is Deposit and transaction
300
(gain of investment-cost of investment/ Cost of investment)
A performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments
What is return on investment
400
indefinite life of an enterprise is subdivided into time periods (accounting periods) which are usually of equal length for the purpose of preparing financial reports on financial position, performance and cash flows.
What is periodicity
400
A mathematical equation or graph that shows the relationship between physical inputs and physical outputs for a business. a business typically focuses on the physical and so does not take into account non physical aspects
What is Production function
400
the time spent that improves the outcome of a process. This is typically just the processing time associated with production.
What is value added time
400
net income/ shareholders equity. is the amount of net income returned as a percentage of shareholders equity.
What is Return on Owners Equity
500
the process of recording, summarizing and reporting the myriad of transactions from a business, so as to provide an accurate picture of its financial position and performance.
What is Finance function
500
measures the ability of a company to pay its current liabilities when they come due. calculated by adding cash, cash equivalents, short-term investments, and current receivables together then dividing them by current liabilities.