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Entrep. 1- Unit 4
Financial Management
| Question | |
|---|---|
| A financial statement that lists what a business owns. | Balance sheet |
| Volume of sales that must be made to cover all the expenses of a business. | Break-Even point |
| An accounting report that describes the cash that flows in and out of a business. | Cash flow statement |
| A book in which one records the dates, amounts, and names of people to whom checks have been written. | Check register |
| Property the borrower forfeits if he or she defaults a loan. | Collateral |
| The cost of the inventory a business sells during a particular period. | Cost of goods sold |
| Money loaned to a business with the understanding that the money will be repaid, with interest, in a certain time period. | Debt capital |
| Money invested in a business in return for a share of the business's profits. | Equity capital |
| Fees that must be paid regardless of how much of a good or service is produced. | Fixed costs |
| Used to record any kind of transaction. | General journal |
| Used to post items that are recorded in journals; ledgers separate transactions by account, allowing business | General ledger |
| Profit before operating expenses are deducted. | Gross profit |
| The dollar amount of all sales, including returns. | Gross sales |
| A financial statement that shows a business's revenue, expenses, and profit over a period of time, usually a year. | Income statement |
| An amount charged for borrowing money. | Interest |
| The stock of goods a business has for sale. | Inventory |
| Accounting records of the business transactions made | Journals |
| Money owed to others | Liability |
| A measurement of the advantages of producing one additional unit of a good or service. | Marginal Benefit |
| An amount deducted from the retail price to determine the sales price. | Markdown |
| An amount added to the cost to determine the sales price | Mark-up |
| The amount remaining after the cost of goods sold and operating expenses are subtracted from sales. | Net profit before taxes |
| The dollar amount of all sales after returns have been subtracted. | Net sales |
| The expenses necessary to operate a business. | Operating expenses |
| The difference between assets and liabilities. | Owner's equity |
| Involves taking a physical inventory of the merchandise. | Periodic inventory |
| Keeps track of inventory levels on a daily basis, using stock cards or a computer. | Perpetual inventory method |
| Amount of money borrowed on a loan. | Principle |
| The percent that is the basis for interest earned or paid. | Rate of interest |
| A predetermined level of inventory when new stock must be purchased. | Reorder point |
| The dollar value of the goods and services a business gives to customers over a certain period of time. | Sales |
| Number of years for which a loan is extended. | Term |
| Costs that go up and down depending on the quantitity of the good or service produced. | Variable costs |
| Individuals or companies that make a profit investing in startup companies. | Venture capitalists |
| Assets |
Created by:
tpotte01
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