Save
Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't know (0)
Remaining cards (0)
Know (0)
0:00
share
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Unit 4

Financial Management

QuestionAnswer
Assets items of value owned by a business
Balance Sheet a financial statement that lists what a business owns, what it owes, and how much it is worth at a particular point in time
break-even point volume of sales that must be made to cover all the expenses of a business
cash flow statement an accounting report that describes that cash that flows in and out of a business
check register a book in which one records the dates, amounts, and names of people to whom checks have been written
collateral property the borrower forfeits if he or she defaults on a loan
costs of goods sold the cost of the inventory a business sells during a particular period
debt capital money loaned to a business with the understanding that the money will be repaid, with interest, in a certain time period
equity capital money invested in a business in return for a share in the business profits
fixed costs fees that must be paid regardless of how much of a good or service is produced
general journal used to record any kind of transaction
general ledger used to post items that are recorded in journals; ledgers separate transactions by account, allowing business
gross profit profit before operating expenses are deducted
gross sales the dollar amount of all sales, including returns
income statement a financial statement that shows a business's revenue, expense, and profit over a period of time, usually a year
interest an amount charged for borrowing money
inventory the stock of goods a business has for sale`
journals accounting records of the business transactions made
liability money owed to others
marginal benefit a measurement of the advantages of producing one additional unit of a good or service
markdown an amount deducted from the retail price to determine the sales price
mark up an amount added to the cost to determine the sales price
net profit before taxes the amount remaining after costs of goods sold and operating expenses are subtracted from sales
net sales the dollar amount remaining after costs of goods sold and operating expenses are subtracted from sales
operating expenses the dollar amount of all sales after returns have been subtracted
owners equity the difference between assets and liability
periodic inventory method involves taking a physical inventory of the merchandise
perpetual inventory method keeps track of inventory levels on a daily basis for interest earned or paid
principle amount of money borrowed in a loan
rate of interest the percent that is the basis for interest earned or paid
reorder point a predetermind level of inventory when new stock must be purchased
sales the dollar value of the goods and services a business gives to customers over a certain period of time
term number of years for which a loan is extended
variable costs cost that go up and down depending on the quantity of the good or service produced
venture capitalist individuals or companies that make a profit investing in start up comapinies
Created by: megangreenway
 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards