Account Me In

A process of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time.

• Financial Planning

• Financial Analysis

• Financial Accounting

• None of the Above

It involves the application of management principles, financial activities of the business and sourcing of funds.

• Financial Planning

• Financial Directing

• Financial Control

• None

It is the central language of the firm's planning activities

• A and B

• Raw Materials

• Equipment

• Finance

In the Accounting Equation, Assets must be equal to Liabilities + Shareholders' Equity.

Assets = Liabilities + Shareholders' Equity

• False

• Maybe

• True

• I don't know

Stockholder's Equity is equal to Assets + Liabilities

Stakeholders' Equity = Assets + Liabilities

• True

• Maybe

• Not Sure

• False

It is a part of the financial statement measuring the financial position of a firm in a given period.

• Income Statement

• Cash Flow

• Balance Sheet

• A and B

Listed below are included in the Assets portion of the Balance Sheet, except:

• Cash

• Investments

• Accounts Receivable

• Accounts Payable

What the firm owes to creditors refer to:

• Assets

• Liabilities

• Stockholders' Equity

• None

Refer to the earnings (losses) generated during the accounting period.

• Total Income

• Total Loss

• Net Income

• A and B

It is an effective way to project firm's financial performance.

• Financial forecasting

• Forecasting

• Financial Ratios

• Percent of Sales Forecasting