Which entity concept requires that an accounting system reflect only information about economic events that pertain to a particular entity?
What is the business entity concept?
100
Who ensures that products appear in the right store, or on a website, at the appropriate time and in the correct quantities
What is merchandiser?
100
Which business function is all about making goods and consists of planning, directing, controlling, and evaluating the products to determine whether or not they are sufficient?
What is production function?
100
What is value added time?
What is depreciation?
100
Which ratio is a measure of how well a company can meet its short-term financial liabilities?
What is quick ratio?
200
Which business concept is a basic underlying assumption in accounting?
What is a going concern?
200
What is the term used to describe a person or company that makes goods for sale?
What is a manufacturer?
200
Which report includes the income statement, statement of cash flows, statement of owners’ equity, and the balance sheet?
What is the Report of the Independent Auditors?
200
Which ratio is a liquidity and efficiency ratio that measures a firm's ability to pay off its short-term liabilities with its current assets?
What is current ratio?
200
Which internal controls for cash maintains adequate documents that record exactly how much cash is being taken in to the penny?
What are cash receipts?
300
Which unit principle states that you only record business transactions that can be expressed in terms of a currency?
What is monetary unit?
300
Which business function is all about money, how to get money, how to raise finance to operate your business, and where do you invest your finance? Is sometimes referred to as capital in business
What is the finance function?
300
In which financial statements can we find the net income of a business?
What is the income statement and the statement of shareholders equity?
300
Which ratio measures how profitable a company sells its inventory or merchandise?
What is gross margin ratio?
300
Which internal controls for cash determines who has authorization to cut checks, to write checks, as well as who has authorization to approve those when a company makes a payment?
What is cash distributions?
400
Which business term means that an indefinite life of an enterprise is subdivided into time periods?
What is periodicity?
400
Which business function is all about people and what jobs that are required, where to find people to fill the jobs, how you pay them, and how to reward them?
What is the human resource function?
400
The service charges, interest income, and NFS checks all affect which side of a bank reconciliation?
What is the banks cash balance?
400
Which return is usually expressed as a percentage and is typically used for personal financial decisions, to compare a company's profitability or to compare the efficiency of different investments?
What is return on investment
400
In the internal controls for cash, cash distribution is an example of?
What is requiring proper authorization?
500
Which business is a business that generates income by providing services instead of selling physical products?
What is a service business?
500
Which function of business is all about products and how to sell it, where to sell it, how to get the products to that location, and what price to charge?
What is a marketing function?
500
Deposit of transit and checks outstanding both affect which side in a bank reconciliation?
What is the business checking account balance?
500
Which return is a measure of profitability that calculates how many dollars of profit a company generates with each dollar of shareholders' equity?
What is return on owners' equity?
500
In the internal controls for cash which compares the accounting records of cash to the bank records?