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Financial Terms
Financial Terms
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StudBud Administration
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A financial terms quiz for arts entrepreneurship students
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
What is the movement of cash into and out of a business?
Depreciation
Profit & Loss
Profit
Cash Flow
2
What are items that are owned by an organisation?
Assets
Liabilities
Debtors
Equity
3
What is the fall in value of an asset over time?
Break even
Depreciation
Transaction cost
Liability
4
What document describes the financial position of a company at a particular point in time?
Income statement
Cash Flow Forecast
Balance Sheet
Profit & Loss Account
5
What shows the income and expenditure of a firm over a period of time?
Assets
Profit & Loss Account
Balance sheet
Cash flow
6
What is made up of capital (the initial investment in the business) and retained profits?
Assets
Equity
The Accounting Equation
Profit
7
What are costs which vary depending on output?
Liabilities
Profit
Variable costs
Break even
8
What, for a retailer, is the purchase price of the goods?
Cost of Goods Sold
Expenses
Cash flow
Assets
9
What are the costs incurred by a business, regardless of its output?
Fixed Costs
Variable Costs
Liabilities
Assets
10
What are obligations to transfer economic benefits as a results of past transactions?
Liabilities
Revenues
Costs
Assets
