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100

What are the components of the income statement

 Revenue - Expenses - Net Income or Net Loss

100
Information needed to prepare a balance sheet liabilities section is obtained from ___________________.
What is Worksheet, Balance Sheet section?
100

The amount remaining after the value of all liabilities is subtracted from the value of all assets

What is Owner's equity?

100
Assets = Liabilities + Owners Equity
What is the Accounting Equation?
100

Financial Statements are prepared in this order.

What is Income Statement, Statement of Changes in Owners Equity & Balance Sheet?

200

How many key ratios are there?

12

200

What are the two Liquidity Ratios

Current Ratio- Quick Ratio

200

The ease with which an asset can be converted to cash.

What is Liquidity?

200
The components of a Quick Ratio calculation.
What is Cash & Receivables/Current Liabilities?
200
A balance sheet reports financial information on a specific date and includes the assets, liabilities, and owner's equity
True
300

What are the two ways to Finance a business?

Debt and Equity Financing

300

What are the three sections of the balance sheet

 Assets - Liabilities - Owners Equity

300
Managers use these as the basis for making good financial decisions.
What are Financial Statements?
300

represents the personal investment of the owner in a business

What is Equity Financing

300

Name at least 3 sources of Equity Financing

 Personal Savings-Friends/ Family-Crowdfunding-Accelerators-Angels-Venture Capital Companies

400

What do Venture capitalists look for?

1. competent management

2. competitive advantage

3. Growth industry

4. viable exit strategys

400
A balance sheet reports a business's financial condition for ________________.
What is a specific point in time?
400

What do SEC, IPO, KPI stand for?

1. Security and Exchange comission

2. initial public offering

3. key performance indicators

400

Explain the "preferred" method of creating a projected income statement

targeting a profit figure and then working up to determine sales level that must be achieved

400

What are the 4 different types of Ratios

Liquidity

Leverage

Operating

Profitability