Final Exam (Spring 2025)

accounting entries representing the money a company owes to creditors for items purchased on credit

• Accounts Receivable

• Accounts Payable

• Purchase Order

• Cash Account

What is the name given for all the resources owned by the business?

• Assets

• Liabilities

• Capital

• All of the Above

What is Bull market?

• Buying a bull online

• When everything goes up and people are buying.

• When prices are going down and nobody is buying.

• When people are selling false information.

What is a Bear market?

• When prices go up and everybody is buying.

• Selling a bear online.

• When prices go down and nobody is buying.

• Buying bears online.

1-4 letter symbol used to represent a company

• Dow Jones

• Tik Tock

• Stock Sign

• Ticker Symbol

When a business has made enough money to pay its costs and begin to make a profit, it has reached its

• break-even point
• variable-cost margin
• fixed cost
• selling price

Some business costs are classified as fixed costs because they

• must be paid within a set time
• don't change when sales go up or down
• are unpredictable and must be estimated
• cost all businesses the same amount

A business that does not reach break-even will

• go bankrupt
• have profit and loss
• lose money
• need to relocate

When is a capital gain realized?

• when you purchase an asset

• as your asset grows in value

• as your asset lessens in value

• when you sell an asset for a profit

What is another word for house payment?

• Wages

• Net Worth

• Mortgage

• Book