FEBEL WOTD QUIZ #1

Question 1

Debts owed to others from a person or company.

Accepted Answer

liability

Question 2

Report that identifies a company's net income for a specific time period-monthly, quarterly,etc

Accepted Answer

profit and loss statement

Question 3

Income received by a person or company for goods or services.

Accepted Answer

revenue

Question 4

The cost of doing business (making money).

Accepted Answer

expense

Question 5

Amount of a person/company's debt divided by their assets expressed as a percent or decimal.

Accepted Answer

debt ratio

Question 6

Summary of a person or company's financial net worth.

Accepted Answer

balance sheet

Question 7

Items (tangible and intangible) of monetary value owned by a person or company.

Accepted Answer

Asset

Question 8

A person/company's ownership value in an asset less the value of all liabilities on that asset.

Accepted Answer

equity

Questions 8