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NFTE Chapter 30 Flashcards | StudBud
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NFTE Chapter 30
NFTE Chapter 30
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#entrepreneurship
Flashcards
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Questions
15
Answers
1
what is the accounting equation?
Assets – Liabilities = Owner’s Equity
Assets x Liabilities = Owner’s Equity
Assets divided by Liabilities = Owner’s Equity
Assets + Liabilities = Owner’s Equity
2
ROS shows how much of each dollar of sales the company keeps as _____.
investment
debt
asset
profit
3
Entrepreneurs also create ______ from the data on their balance sheets.
debts
liabilities
assets
ratios
4
What is an example of an asset?
owner's equity
rent
accounts payable
a printer
5
which is not an example of an asset?
rent
a computer
a vehicle
a printer
6
Marketable securities are investments, that can be converted to cash ______.
quickly
overtime
slowly
after you pay the liabilities
7
What is considered to be a "very high" ROS percentage?
6-10%
2-5%
11-20%
31+%
8
What is the acronym for the accounting equation?
A=L x O.E
A+L=O.E
A=L-O.E
A=L+O.E
9
The value of the business on a specific date is referred to as the _____.
current assets
owner's equity
debts
liabilities
10
The percentage of each dollar of revenue, or sales, needed to cover expenses is?
Debt Ratio
ROI
Operating Ratio
Percent of Change
11
Any outstanding bill or loan that must be repaid is a ______.
loan
profit
asset
liability
12
A _______ ROS ratio is usually a good indicator of success for a business.
average
low
high
bad
13
What is the operating ratio equation?
(Expenses divided by Sales) divided by 100= OR
(Expenses x Sales) x 100= OR
(Expenses divided by Sales) x by 100= OR
(Expenses x Sales) divided by 100= OR
14
Debts that usually take longer than one year to repay are _______.
liabilities
current liabilities
short-term liabilities
long-term liabilities
15
An income statement that shows the monthly sales totals at a glance is?
Same‐Size Analysis
Sales‐Data Analysis.
Ratios
Debt Ratio
