This fund is used to cover disbursements for small payments on behalf of a corporation.
What is Petty Cash?
100
Company resources that are expected to be consumed within one year.
What are current assets?
100
This represent an issuer's written promise to pay an amount identified by its par value with interest.
What is a bond?
100
The term used to describe the purchase of its own stock by the corporation.
What is treasury stock?
100
This category of the statement of cash flow deals with the buying/selling of stocks and issuing of bonds.
What are financing activities?
200
This law requires managers and auditors of publicly traded companies to document and certify the system of internal controls.
What is Sarbanes Oxley Act (SOX)?
200
This method of receivable write off in NOT recognized for GAAP purposes.
What is the Direct Write Off Method?
200
The advanced payment of cash for work to be performed in the future is recorded against this account.
What is unearned revenue?
200
This represents the type of stock for which shareholders do not have voting rights but they have rights to current and unpaid prior year dividends.
What is cumulative preferred stock?
200
This 2009 movie stars a legendary action star in the role of a retired, aging former autoworker who owns this particular car and is the title of the movie in question.
What is Grand Torino?
300
Managers frequently use this system to monitor and control business activities.
What is Internal Control?
300
This method of raising money by using receivables as security for a loan.
What is Pledging (Receivables)?
300
A bond that is issued with a contract rate less than the market rate.
What is bond discount?
300
This represents the date the directors vote to declare and pay a dividend.
What is the date of declaration?
300
This movie is the highest grossing in dollars over the last 40 years (adj. for inflation).
What is Star Wars (Episode IV - 1977)?
400
This limitation on internal controls addresses the issue of whether its costs exceed the benefits.
What is the cost benefit principle?
400
The type of expenditures incurred to keep an asset in normal, good operating condition but they do not extend the the asset's useful life.
What are ordinary repairs?
400
Both employer and employee equally share in the payment of this tax liability.
What is FICA (social security & Medicare)?
400
Treasury stock that is issued below its costs with no balance in the paid in capital account-Treasury Stock has a corresponding debit entry to this account for the excess.
What are retained earnings?
400
In 2003, the NFL awarded the regular season MVP to these two players in the same season.
Who are Peyton Manning and Steve McNair?
500
Deposits in transit are deducted for bank reconciliation purposes from the ending period balance of this document.
What is the bank statement?
500
This intangible asset represents the amount by which a company's value exceeds the value of its assets and liabilities.
What is Goodwill?
500
This term is used to describe a potential obligation that depends on a future event arising from a past transaction or event.
What is a contingent liability?
500
This right protects shareholders' proportionate interest in the corporation when stock is issued by the corporation.
What is a preemptive right?
500
This contra account offsets against a fixed asset account that includes equipment, vehicles, and buildings.