Dexter
What function measures, classifies, analyzes, and communicates financial information to people inside and outside a company?
What is Accounting?
Pedro's job is to keep track of all of the company's financial transactions and record them. Pedro is
What is A Bookkeeper?
________ is concerned with preparing accounting information and analyses primarily for people outside of the organization.
What is Financial Accounting?
Zenon is an accountant for the United Way, a charitable organization. Zenon is a(n) ________ accountant.
What is Not-For-Profit?
The ________ provides a summary of a company's financial condition on a given date.
What is Balance Sheet?
Lester, Lester & Lester, a law firm, has an accountant on staff to manage its financial information. This accountant is a(n) ________ accountant.
What is Private?
What is the name of the standards that accountants must follow to ensure the financial statements they prepare are relevant, reliable, consistent, and comparable?
What is Generally Accepted Accounting Principles?
According to the Generally Accepted Accounting Principles (GAAP), financial statements must be relevant, consistent, reliable, and
What is Comparable?
In which step in the accounting process would a company find and sort data from all transactions related to the business?
What is Collection?
In which step of the accounting process does ratio analysis play a role?
What is Analysis?
Carla was balancing the books when she realized that she entered a transaction of $102.50 in one place, but she entered the same transaction as $105.20 in another place. Carla was able to catch this error because she was using the ______ method of bookkeeping.
What is Double-Entry?
When bookkeepers put journal entries into categories in a ledger, they are in which step of the accounting process?
What is Classification?
A(n) ________ is a specialized record book or computer program that contains summaries of all journal transactions that are accumulated into specific categories.
What is Ledger?
At the end of an accounting period, the bookkeeper prepares a(n) ______ to ensure that the data in the ledgers is accurate.
What is Trial Balance?
During which step of the accounting process is a trial balance run?
What is Summarization?
Things of value owned by a business are its
What is Assets?
On the balance sheet, insurance would be listed a(n)
What is Prepaid Expense?
Akito has not yet paid the rent on his office for the month. How would this debt be labeled on a balance sheet?
What is Accounts Payable?
A mechanic took out a mortgage from a bank to buy the garage he and his employees work out of. How would this be listed on a balance sheet?
What is Long-Term Liability?
What is used to evaluate how well management uses a firm's assets to generate revenue?
What is Efficiency Ratio?
Nakia has a small accounting company with three employees. She buys each person a new computer every three years. The reduction in value of Nakia's older computers would be listed on a balance sheet as
What is Accumulated Depreciation?
Melanie's Diner has current assets of $75,000 and current liabilities of $16,500. She is expecting sales this week of $12,500. What is Melanie's Diner's current ratio?
What is 4.54?
Dr. Badger's Pet Store is applying for a loan from the bank. The company has liabilities of $670,000 and owners' equity of $250,000. What is the debt to owners' equity ratio for Dr. Badger's Pet Store?
What is 2.68%?
Upstart Solutions has cash of $25,000, inventory of $50,000, land valued at $100,000, mortgage payable of $90,000, and accounts payable of $5,000. What is the amount of its stockholders' equity?
What is $80,000?
Massive Discount Emporium has current assets of $250,000, including cash of $50,000, marketable securities of $20,000, and receivables of $50,000. Current liabilities are $125,000 and long-term liabilities are $100,000. Calculate its current ratio.
What is 2.00?