BUS 402 BUS402 Quiz 4 Answers

BUS 402 BUS402 Quiz 4 Answers


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BUS 402 Quiz 4

  1. The profit and loss statement is also referred as the ________.
  2. ________ are those things that a business owns which have value.
  3. The ________ ratio is a measure of the small company's ability to pay current debts from current assets.
  4. ________ are those items of value the business owns; ________ are those things the business owes.
  5. ________ are those things that a business owes; they represent creditors' claims against the business.
  6. The statement of cash flow:
  7. The ________ ratio is the liquidity ratio most commonly used as a measure of short-term solvency.
  8. The ________ ratio measures the owner's rate of return on the investment in the business.
  9. Dividing gross profit by net sales produces:
  10. When a company is forced into liquidation, owners are most likely to incur a loss when selling:
  11. ________ ratios tell whether or not the small company will be able to meet its maturing obligations as they come due.
  12. ________ ratios indicate how efficiently the small firm is being managed.
  13. Depreciation is:
  14. What is the difference between price per unit and variable cost per unit?
  15. A technique that allows the small business owner to perform financial analysis by understanding the relationship between two accounting elements is called:
  16. An important source of credit information that collects information on small businesses that other reporting services ignore is:
  17. If a small business owner receives a "Notice of Filing" from a customer, he should:
  18. ________ companies are most likely to suffer cash shortages.
  19. The budgeting strategy that evaluates the necessity of every item on the budget each year by starting with a zero in each budget category is called:
  20. An arrangement in which customers mail their payments on account to a post office box which the company's bank monitors, from which it collects the payments, and then immediately deposits the payments into the firm's interest-bearing account is called a:
  21. When forecasting cash disbursements in the cash budget:
  22. The first step in managing cash more effectively is:
  23. ________ is simply a "cash map" which shows the amount and the timing of cash receipts and cash disbursements over time.
  24. ________ is simply the money owed the firm by customers because they've purchased goods or services on credit.
  25. When investing surplus cash, the small business owner's key objectives should be:
  26. ________ is the money that moves through the business in a continuous cycle.
  27. The most important item on the balance sheet is:
  28. A bank account that technically never has funds in it but is tied to another master account so that when checks are presented for payment the master account is debited, permitting the company to use its own money during the "float" period, is called a(n):
  29. ________ is not one of the three estimates a financial analyst suggests.
  30. Generally speaking, most small business owners tend to:

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