______ is all income a business recieves over a period of time.
What is Revenue
100
______ list all cash recieved and spent by the business.
What is Cash Records
100
An employee is paid by the hour.
What is an hourly wage.
100
What's the equation to find net income ratio?
What is total total sales/net income
100
How many steps are there in the budgeting process?
What is four.
200
A ___ budget plans income and expenses form the beginning of a new business or major business expansion until it becomes profitale.
A) Cash
B) Start-up
C) Operationg
D) New
What is B) Start-Up
200
_______ identify all purchases and sales made using credit.
What is Record of accounts
200
A receipt from a direct deposit.
What is Advice of deposit.
200
Three most important elements of a company's fiancial strength.
What is assets, liabilities, and owner's equity.
200
____ shows all taxes collected and paid.
What is tax records.
300
A _____ budget describes the fiancial plan for ongoing operations of the business for a specific period.
A) Cash
B) Start-up
C) Operating
D) New
What is C) Operating
300
Occurs when expenses are greater than income.
What is Net loss
300
Keeps track of an employee's name, address, and SSN.
What is Payroll records
300
True/False
Employees are responsible for the financial health of a company.
What is FALSE
300
Payroll is the financial record of employee compensation, _____, and net pay.
What is Deductions.
400
The basic financial equation:
________ _________= profit/loss
What is Revenue and Expenses
400
What a company OWNS.
What are assets.
400
List two things an individual's payroll records keep track of.
What is salary, wage, vacation days, or sick days.
400
True/False
managers who understand the information in financial statements will be able to make better decisions that'll result in the wise use of the company's money.
What is TRUE.
500
_________ is all costs of operating a business.
What is Expenses
500
What a company owes.
What are Liabilities
500
Earning reports/pay stubs provide informationfrom the ____ pay period.
What is Current
500
_____ let managers identify problems before they become serious enough to harm the business.
What is Descrepancies
500
Reports that sum up the financial performance of a business are:
A)Financial record
B) Financial Statements
C) Assets
D) Liabilities