The difference between current performance and the standard
What is variance?
100
The amount owed by customers
What is accounts receivable?
100
Provides payment of damages to people who have losses resulting from the negligence or dishonesty of an employee or from the failure of the business to
What is bonding?
100
A savings account that requires an investor to deposit a specified sum for a fixed period at a fixed interest rate
What is a Certificate of Deposit (CD)?
200
Long-term planning that provides broad goals and directions for the entire business
What is a strategic planning?
200
A group of individuals who cooperate to achieve a common goal
What is a work team?
200
Things owned, such as cash and buildings
What are assets?
200
The value of a share of stock that is found by dividing the net worth (assets minus liabilities) of the corporation by the total number of shares outstanding
What is book value?
200
An indication of one’s moral obligation to pay debts
What is character?
300
Lowest level of management; oversees day-to-day operations
What is a supervisor?
300
A systematic process of recording and reporting the financial information resulting from business transactions
What is accounting?
300
A financial statement that lists the assets, liabilities, and capital of a business
What is a balance sheet?
300
A financial plan extending usually for one year
What is a budget?
300
A written order on a financial institution to pay previously deposited money to a third party on demand
What is a check?
400
An examination of an organization’s internal strengths and weaknesses as well as opportunities and threats from its external environment
What is SWOT analysis?
400
Assets = Liabilities + Capital
What is the accounting equation?
400
An institution that accepts demand deposits and makes commercial loans
What is a bank?
400
Earning power
What is capacity?
400
Property a borrower pledges to assure repayment of a loan
What is collateral?
500
Means that no employee has more than one supervisor at a time
What is unity of command?
500
Money owed for credit purchases
What is accounts payable?
500
A long-term written promise to pay a definite sum of money at a specified time
What is a bond?
500
What a business is worth after subtracting liabilities from assets