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Entrepreneurship - Financial Statements and Analysis Flashcards | StudBud
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Entrepreneurship - Financial Statements and Analysis
Entrepreneurship - Financial Statements and Analysis
20 terms
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StudBud Administration
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Financial Statements and financial analysis unit review
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
COGS - stands for
cost of great sales
cost of general solutions
call off giant squid
cost of goods sold
2
utilities, salaries, wages, cleaning supplies are all examples of?
COGS
operating expenses
income tax
interest expense
3
property forfeited by the borrower if they default on the loan
collateral
house
building
4
Lowering of the value of an asset
appreciation
inflation
deflation
depreciation
5
why should you analyze your sales by product?
find out how much money you are making
to decide what inventory to stock
to order more product
6
loan backed by collateral
unsecured loan
secured loan
debt capital
7
formula for calculating the breakeven point
fixed costs / (selling price - variable cost per unit)
variable costs / (selling price - fixed costs)
selling price / (fixed costs + variable costs per unit)
8
The name of the financial statements using projected or predicted numbers?
Pro-forma
Pro-fessional
Pro-state
Pro-accounting
9
money loaned to a business that the business pays back with interest in a certain time period
equity capitl
unsecured loan
debt capital
secured loan
10
Example of a fixed asset
cash
building
inventory
supplies
11
What is the equation for an income statement?
Assets - liabilities = owners equity
cash receipts - cash payments = net cash flow
revenue - expenses = net income
12
A list of one time only expenses to establish a business?
cash flow statement
balance sheet
start up costs
income statement
13
What is the equation for a balance sheet?
cash receipts - cash payments = net cash flow
assets - liabilities = owners equity
revenue - expenses = net income
14
Another word for debt or money owed is?
expenses
receipts
bills
liabilities
15
If an entrepreneur sells part of the ownership of their business they are receiving?
equity capital
debt capital
proprietorship
corporation
16
the volume of sales needed to cover all expenses
100
breakeven point
1000
profit margin
17
tracks payments due from customers for products and services already provided
accounts payable
uncollectible accounts
accounts receivable
18
The money a business receives from selling products and/or services is called?
cash payments
deductible
assets
revenue
19
What is an asset?
money a business owes
money received
something of value a business owns
cash paid
20
What is the equation for the cash flow statement?
revenue - expenses = net income
assets - liabilities = net worth
cash receipts - cash payments = net cash flow
