POB - Ch. 12 - Financial Management Key Terms

_____________________ is the value of the owner's investment in the business.

• Liabilities
• Assets
• Owner's Equity
• Cash Budget

All income that a business receives over a period of time is called _________________________.

• Revenue
• Operating Budget
• Assets
• Financial Records

_________________________________________ are comparisons of a company's financial elements that indicate how well the business is performing.

• Operating Budget
• Balance Sheet
• Income Statement
• Financial Performance Ratios

With _____________________, the employer transfers net pay electronically into the employee's bank account.

• Payroll
• Direct Deposit
• Payroll Records
• Budget

___________________ are the costs of operating a business.

• Liabilities
• Assets
• Expenses
• Revenue

The _______________________________ describes the financial plan for ongoing operations of the business for a specific period.

• Operating budget
• Income statement
• Payroll records
• Financial records

The __________________________ plans income and expenses from the beginning of a new business or a major business expansion until it becomes profitable.

• Operating budget
• Income statement
• Financial records
• Start-up budget

A ________________ is the financial record of employee compensation, deductions, and net pay.

• Financial records
• Payroll records
• Operating budget
• Payroll

_____________________ are used to record and analyze the financial performance of a business.

• Financial records
• Cash budgets
• Payroll records
• Operating budgets

A ____________________ provides detailed plans for the financial needs of individuals, families, and businesses.

• Financial performance ratio
• Budget
• Cash budget
• Balance sheet