Ch. 17: Acct/Fin info
___________ provides information about the financial condition and operating performance of a for-profit or not-for-profit firm. LO 17-01.
What is Accounting?
The function in a business that acquires funds for the firm and manages those funds within the firm. LO 18-1
What is finance?
Securities markets represent the financial marketplaces for __________ and bonds. LO 19-1
What are stocks?
Anything people generally accept as payment for goods and services is considered _______. LO 20-1
What is money?
Activities of ___________ accountants include measuring and reporting the costs of production, marketing and other functions within the organization. LO 17-02.
What is managerial?
The budget that analyzes the firm's spending plans for long-lasting assets - such as equipment and buildings - that require large sums of money. LO 18-2.
What are the New York Stock Exchange (NYSE) and the NASDAQ?
The person (position) in control of the U.S. money supply. LO 20-2
Who is the Fed Chairperson? (of the Federal Reserve)
GAAP is an acronym for this term. LO 18-1.
What is Generally Accepted Accounting Principles?
The _______ ___________ reports revenues and selling costs for a period of time.
This type of financing represents funds acquired from within the firm or through the sale of stock, representing ownership in the company. LO 18-2
A portfolio that includes several different types of investments to spread the risk of investing is __________. LO 19-5
What is diversification?
NOTE: remember we watched the "Am I Diversified" segment of CNBC's Mad Money with Jim Cramer?
With a purpose to restore confidence in banking institutions during the Great Depression, this entity was created to operate as an independent agency of the U.S. government and sells insurance to banks. LO 20-5
What is the Federal Deposit Insurance Corporation (FDIC)?
A(n) ________ _______ ______ represents the first time a corporation's stock is offered and sold to persons outside of the company. LO 19-1
What is initial public offering (IPO)?
Maryland Nursery offers customers credit terms of 3/15 net 30, meaning ...
LO 18-4.
Stocks of corporations with earnings expected to increase faster than other stocks (and likely don't pay a dividend) are called ________ stocks. LO 19-6
Backed (insured) by the NCUA, these are nonprofit, member-owned financial cooperatives that offer a full variety of banking services such as accepting deposits and making loans. LO 20-4
What are Credit Unions?
This organization provides funding for projects that improve the standard of living in less-developed nations. LO 20-7
What is The World Bank?
Bark Three Times Pet Store's accountant has recorded balances of: Total current assets = $60,000, including Cash = $24,000; Accounts Receivable = $20,000; and Inventory = $16,000. Total assets = $230,000; Total current liabilities = $48,000; and Total current and long-term liabilities = $98,000. The store's _______ ratio = 1.25. LO 17-5.
The type of financing used when a company incurs a legal obligation to repay the amount borrowed. LO 18-5.
A significant decrease in the money supply tends to send the economy in a __________ while rapidly increasing the supply of money often leads to ___________.
What is a recession and inflation?