Name 2 of the 3 adjusting items for the cash bank balance when reconciling the account.
What is add deposits in transit, subtract outstanding checks, add/subtract bank errors?
100
Using ratios and other financial measures of success.
What is Financial Perspective?
100
Employees should be supervised.
What is providing independent checks on performance?
100
The return generated per dollar of total investment.
What is ROI return on investment?
100
A check received and deposited by the company that has been returned for lack of funds.
What is NSF (Nonsufficient funds) check?
200
Name 2 of the 4 adjusting items in the accounting (book) records when reconciling the bank statement.
What is add interest earned, subtract service charge, subtract NSF checks, add/subtract errors?
200
Monitoring the customer base focusing on customer growth and customer satisfaction.
What is the customer perspective?
200
Records must be kept, an accounting system must be working properly.
What is maintaining adequate documentation?
200
A liquidity measure of the company's ability to meet its current obligations as they become due with its very liquid assets.
What is Quick Ratio?
200
Reports sent by the bank to the business who has an account at the bank showing all transactions in each cash account for that period.
What is a Bank Statement?
300
The 3 phases in the management cycle.
What is Planning, Performing, and Evaluating?
300
Analyzing the company's ability to ensure its future focusing on employee growth and institutional learning.
What is Learning and Growth perspective?
300
Assets should be kept under lock and key and records should be backed up and kept in a safe place.
What is physically controlling assets and documents?
300
A measure of the speed at which the company sells its inventory.
What is Inventory turnover?
300
The amount of time that elapses from when a customer places an order until the customer receives that order.
What is Customer Response Time?
400
The activities involving obtaining and repaying cash and other capital resources.
What is Financing processes /activities?
400
Examining the internal processes of the company paying particular attention to quality and time.
What is Internal Perspective?
400
The person(s) who have access to the accounting records should not also have access to cash.
What is separating incompatible duties (segregation of duties)?
400
A ratio used to monitor the profitability of the company's products.
What is Gross margin ratio?
400
A company's long-term plan for using its resources, both physical and human.
What is Organizational Strategy?
500
List the 4 basic business processes
What is 1- business organization and strategy process, 2-operating process, 3-capital resource process, 4-performance measurement and management process.
500
Name all 4 perspectives of the balanced score card.
What is financial, internal, customer, learning and growth?
500
Only certain people are authorized to do certain things.
What is proper authorization?
500
Name the 3 internal perspective ratios covered in this chapter.
What is accounts payable turnover, accounts receivable turnover and inventory turnover?
500
A control system where the business establishes bank accounts at various locations around the area where customers live.