Consists of three basic activities: identifies, records, and communicates
What is accounting
100
presents the revenues and expenses and result in net income or net loss for a specific period of time.
What is an Income Statement.
100
Periodically the bank provides a statement of a customers deposit account.
What is Bank Statement?
100
=P*R*T
What is Simple Interest
200
Mama and Papa Bear earns and spends it?
What is money
200
provides internal reports to help users make decisions about their companies.
What is Managerial Accounting
200
Reports the assets, liabilities, and owners equity at a specific date?
What is a balance sheet
200
The legal proceedings by which the affairs of a person turned over to a trustee.
What is Bankrupt?
200
=Income-Expenses
What is Cash Flow.
300
brothers first job
What is a newspaper route
300
A what would say this statement. Will United Airlines be able to pay its debts as they come due?
What is a Financial accountant
300
A document used in writing to identify sales of goods or transfers of property.
What is a Bill of sale.
300
A demand deposit account subject to withdrawal of funds by check.
What is a Checking account?
300
=72/R
What is the rule of 72.
400
"The price is soooo much higher." Narrater of this line.
Who is papa bear.
400
Resources the business owns?
What are assets.
400
The interest rate and the payment remain the same over the life of the loan. The consumer makes equal monthly payments of principal and interest until the debt is paid in full.