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Unit 6 POBF
What does COGS stand for?
What does DPO stand for?
Unit 6 POBF
15 terms
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StudBud Administration
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780 plays
Principles of Business and Finance
Flashcards
15 cards
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Practice quiz
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Host live
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Questions
15
Answers
1
What does DPO stand for?
Revenue
Average Inventory
Define Days Payable Outstanding
COGS
2
What does COGS stand for?
Cost of Goods Sold.
Cost of General Sales.
Current Open Graphic Sales.
Current Office Group Sales.
3
Decisions that determine which projects a business will invest in:
Capital Investment Decisions
Accounting
Return on Capital
Cash Conversion Cycle of Working Capital Management
4
What does DIO stand for?
Define Days Sales Outstanding
Define Days Payable Outstanding
Define Days Inventory Outstanding
Cash Conversion Cycle
5
What is the first step in the accounting cycle?
Prepare the transaction’s source document.
Analyze and classify the transaction.
Post general journal entries to the ledger accounts.
Identify the transaction or other recognizable event
6
What does DSO stand for?
Define Days Inventory Outstanding
Define Days Sales Outstanding
Define Days Payable Outstanding
Cash Conversion Cycle
7
Accounting is often called the _____ of business.
Purpose
Aspect
Culture
Language
8
The process of obtaining funds and using them to achieve the goals of the business:
Cost accounting
Return on Capital
Accounting
Finance
9
Find the definition: Cash accounting method
process of keeping and interpreting financial records.
income is recorded at the time the money changes hands.
measure of how well a business generates cash flow.
Management of a firms current balance of assets/liabilities;
10
The process of keeping and interpreting financial records:
Capital Investment Decisions
Accrual accounting method
Accounting system
Accounting
11
What does CCC stand for?
Cash Conversion Cycle
Cash Conversion Cyclone
Define Days Payable Outstanding
Define Days Inventory Outstanding
12
What is Define Days Inventory Outstanding?
This involves the company's payment of its own bills or AP.
Addresses how long it takes to sell the entire inventory.
Several measures of management effectiveness.
Cost of goods sold.
13
What is the last in the accounting cycle?
Post general journal entries on the ledges accounts
Correct discrepancies if they are not in balance
Record transaction making entries in the appropriate journal
Prepare reversing journal entries
14
Which is the formula for working capital?
current liabilities+current assets
current liabilities-current assets
current assets-current liabilities
15
What is a Liabilty
Being responsible for something.
An improvement.
A benefit.
Being accused of something.
