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Duplicate of Entrepreneurship - Financial Statements and Analysis Flashcards | StudBud
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Duplicate of Entrepreneurship - Financial Statements and Analysis
Duplicate of Entrepreneurship - Financial Statements and Analysis
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Financial Statements and financial analysis unit review
Flashcards
13 cards
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Practice quiz
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Questions
13
Answers
1
If an entrepreneur sells part of the ownership of their business they are receiving?
proprietorship
equity capital
corporation
debt capital
2
Another word for debt or money owed is?
liabilities
bills
receipts
expenses
3
tracks payments due from customers for products and services already provided
accounts receivable
accounts payable
uncollectible accounts
4
Lowering of the value of an asset
depreciation
appreciation
deflation
inflation
5
utilities, salaries, wages, cleaning supplies are all examples of?
COGS
operating expenses
income tax
interest expense
6
What is an asset?
cash paid
money a business owes
something of value a business owns
money received
7
What is the equation for an income statement?
cash receipts - cash payments = net cash flow
Assets - liabilities = owners equity
revenue - expenses = net income
8
The money a business receives from selling products and/or services is called?
cash payments
assets
deductible
revenue
9
the volume of sales needed to cover all expenses
100
1000
profit margin
breakeven point
10
What is the equation for a balance sheet?
revenue - expenses = net income
cash receipts - cash payments = net cash flow
assets = owners equity + liabilities
11
COGS - stands for
call off giant squid
cost of goods sold
cost of general solutions
cost of great sales
12
Example of a fixed asset
inventory
cash
building
supplies
13
What is the equation for the cash flow statement?
assets - liabilities = net worth
cash receipts - cash payments = net cash flow
revenue - expenses = net income
