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Assesments
Vocab
Problems
100
D. to provide financial information to competitors
which of the following is not a reason businesses need to maintain financial records? A. To determine the kinds and value assets B. To track the financial progress of the business C. To prepare financial forms and reports required by the government D. To provide financial information to competitors
100
Organized summaries of a business's financial information and activities
What is Financial records?
100
19,080
3600 x 5 = ... x %6
200
A. Fixed assets
Expensive assets of a business that are expected to last and be used for a long time are known as A. Fixes assets B. Depreciated C. Obsolete assets D. Stable assets
200
a plan showing projected sales, costs, expenses and profits for the on going operations of a business
What is operating budget ?
200
$20.52 a piece
They bought 78 items for $300.30 how much would they have to sell it a piece to make $1,300.26 Profit ?
300
B. Capital budget
A financial plan for replacing fixed assets or acquiring new one is known as a (n) A. start up budget B. capital budget C. operating budget D. cash budget
300
The money required to start or expand a business
What is Capital?
400
C. review expenses to see what can be done to reduce them
If a manager sees that actual expenses are exceeding budgeted amounts, he or she should immediately A. do nothing and see of things change B. discard the old budget and develop a new one C. review expenses to see what can be done to reduce them D. increase the prices of products to improve sells
400
The movement of cash onto and out of a business
What is cash flow ?
500
A. income - expenses = profit
The basic accounting equation is A. income - expenses = profit B. liabilities = assets = profit or loss C. assets = assets + capital D. income = profit or loss - expenses
500
A person who has met a state's education, experience, and examination requirements in accounting.
What is certified public accountant ?