Entrepreneurship Unit 6 Finance Exam

A tax paid by employers into a fund to pay for terminated employees.

What is the Profit and Loss statement also called?

What are the things of value that a business owns called?

What financial statement reports the assets, liabilities, and owner's equity?

The amount of customers owe a business.

Proposed or estimated financial statements.

What are the debts of a company called?

Which of the following is NOT an example of a way to control costs?

What is the money raised by taking out loans called?

Financial statement that shows the amount of cash that is available at any give time.

Which of the following is a fixed expense?

What is the name of an investor who funds start-up companies?

All U.S. businesses use which system for their financial records?

What tax does an employer withhold or pay on behalf of their employees based on their wage?

Accounting Equation

Operating a business as frugally as possible.

What expenses are those that change with each unit of product produced.

Amount of cash needed to carry out daily business activities.

What is the number one source of financing for a new business?

What is the main function of a company?