BME Operations Mngt Acct Quiz

The difference between net profit and gross profit is that net profit takes into account:

• Revenue

• Expenses

• Taxes

• Assets

What is another word used to describe a company's liabilities?

• Expenses

• Cash

• Cash Flow

• Debts

What is used as an indicator of how well managed and healthy a company is?

• Cash Flow

• Revenue Statement

• Profit Margin

• Statement of Stockholder's Equity

The way a manager can track the financial health of a business is called:

• Accounting

• Supervision

• Consulting

• Tax Returns

A synonym of Net Profit is

• Net Income

• Net Sales

• Net Revenue

• Net Assets

The Accounting Equation is:

• Assets = Liabilities + Capital

• Liabilities = Assets - Capital

• Capital = Assets - Liabilities

• All of the Above

• None of the Above

The Income Statement is designed to to measure:

• A company's performance on a specific day

• Neither choice is correct

• A company's performance over a certain period of time

An example of a tangible asset is:

• A corporation's brand

• A corporation's building

• A corporation's investments in stocks

• A corporation's retirement plan

Accounting is the:

• Decider of Business

• Language of Business

• Strategic Planning Tool for Business

• None of these are correct

Which financial statement is a snapshot of the company's finances?

• Income Statement

• Balance Sheet

• Statement of Shareholder's Equity

• Cash Flow Statement