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Ch. 21

Financial Management

Comparative financial statement Statement with financial data from two accounting periods.
Ratio Analysis Comparison of two or more amounts on a financial statements and the evaluation of the relationship between these two amounts.
Current ratio Compares current assets and current liabilities.
Working capital Capital available to the business to carry out its daily operations.
Debt ratio Percentage of total dollars in the business provided by the creditors .
Net profit on sales ratio Number of cents left from each dollar of sales after expenses and income taxes are paid.
Operating ratio Relationship between each expense and total sales reported in the income statement
Quick ratio Measure of the relationship between short-term liquid assets and current liabilities.
Variable expenses Business expenses that change with each unit of product produced such as supplies, wages, and production materials.
Fixed expenses Expenses that do not change with number of units produced.
Budget Formal, written statement of expected revenue and expenses for a future period of time.
Capital expenditures Long-term commitments of large sums money to buy new equipment or replace old equipment.
Credit bureaus. Agencies that collect information on how promptly people and businesses pay their bills.
Created by: kdesai303



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