what is the perpetual inventory system

system that keeps track of the number of items in inventory

charge on customers as a % of price of item being baught

vendor meets terms/ standards of a contract

inventory system where business keep track of # of each item

portion of income not spent on essentials

assumption that taxpayers will stay in compliance w tax laws

what is financial globalization

worldwide development of business related ideas implement

system that monitors some1/thing on their financial standing

the area of law that governs taxation

2 or more business converting into a new business

someone/thing that owes money or goods to another

entity that provides capital to debtors for for conpensation

what is financial information management

evaluating credit, loans or other financial activities

what is defination of financial position

status of assets, liabilites and ownerś equity in business

a tax paid on wealth, collected after a person has died

payment of cash for goods or services to meet an obligation

control business for leagal reasons and safety of community

banks, money lenders (etc.) who lend money among themselves

determine cost of production by assigning expenses to stages

possibility of loss,damage, injury outside of business

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DECA FINANCE

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DECA finance flashcards NKHS business club 2016-2017

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Questions 20

Answers

1
what is the perpetual inventory system
background check on potential employee
keeps track of the hours your employees work
entrepreneurship studies
system that keeps track of the number of items in inventory
2
sales tax
the lower the cost = the higher the tax
charge on customers as a % of price of item being baught
the difference between buying a bike and a car
not used for anything
3
compliance
agreement between you and boss
sales tax
vendor meets terms/ standards of a contract
needs vs wants
4
inventory system
10/10 businesses use it worldwide every year
the amount of income vs outcome
cash flow system
inventory system where business keep track of # of each item
5
what are savings
amount of money you spend
bankruptcy
blue chip, defensive, growth stocks
portion of income not spent on essentials
6
voluntary compliance
being given a leadership position for a specific job
assumption that taxpayers will stay in compliance w tax laws
always trying your best
being a responsible business man
7
what is financial globalization
New deca chapters
inflation in different countries
worldwide development of business related ideas implement
currency exchange
8
what is accounting
the study of money
opportunity cost
the stock market
system that monitors some1/thing on their financial standing
9
what is the tax law
a person is paid for their work
the area of law that governs taxation
a law created in 2010
more tax = less money u make
10
consolidation
2 or more business converting into a new business
a letter from a friend expressing grief
sum of money given to you by your company when someone dies
a secret agreement between you and your boss
11
what is a debtor
someone/thing that owes money or goods to another
the money you earn from working
debt
a tax put in place by the government
12
creditor
entity that provides capital to debtors for for conpensation
credit cards
a line of credit
wall street worker
13
what is financial information management
credit score
income tax
the desire to be an owner of a company
evaluating credit, loans or other financial activities
14
what is defination of financial position
status of assets, liabilites and ownerś equity in business
wall street stock market
the location where you meet in the bank to talk to a teller
the bank in which you belong to
15
estate tax
a tax paid on wealth, collected after a person has died
the amount of money you pay to loan for a home
taxes you pay on pools, trampolines, water slides, etc.
amount of money you r taxed based on the size of ur property
16
what is expenditure
payment of cash for goods or services to meet an obligation
a way of trying to gain attention for yourself or a cause
the study of the stock market
the study of finance
17
risk management
person hired by business to analyze amount of risk in a sale
control business for leagal reasons and safety of community
managing risk
the bigger the risk, the higher the return
18
money market
US currency in other foreign countries (Mexico, Europe)
refers to the status of the stock market when its up
the status of your financial situation
banks, money lenders (etc.) who lend money among themselves
19
what is costing
managing your money
determine cost of production by assigning expenses to stages
regression
buying
20
external risk
the volatility of a stock
liabilities vs assets
the opposite of defensive stocks
possibility of loss,damage, injury outside of business

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