Financial Terms Quiz 2

What is the definition of Accounts Payable?

• Money owed to a company by its clients or customers

• Money owed by a company to its suppliers

• The paying off of debt in regular installments over a period of time

• Everything a company owns that has monetary value

What is the definition of Accounts Receivable?

• Money owed to a company by its clients or customers

• Money owed by a company to its suppliers

• The paying off of debt in regular installments over a period of time

• Everything a company owns that has monetary value

What is the definition of Amortization?

• Money owed to a company by its clients or customers

• Money owed by a company to its suppliers

• The paying off of debt in regular installments over a period of time

• Everything a company owns that has monetary value

What is the definition of Assets?

• Money owed to a company by its clients or customers

• Money owed by a company to its suppliers

• The paying off of debt in regular installments over a period of time

• Everything a company owns that has monetary value

What is the definition of Balance Sheet?

• Money owed to a company by its clients or customers

• Money owed by a company to its suppliers

• The paying off of debt in regular installments over a period of time

• A financial statement that reports a company's assets, liabilities, and equity at a specific point in time

What is the definition of Break-Even Point?

• The point at which total cost and total revenue are equal, meaning the business is neither making a profit nor incurring a loss

• Wealth in the form of money or other assets owned by a business

• The total amount of money being transferred into and out of a business

• The direct costs associated with producing goods

What is the definition of Capital?

• Money owed to a company by its clients or customers

• Wealth in the form of money or other assets owned by a business

• The total amount of money being transferred into and out of a business

• The direct costs associated with producing goods

What is the definition of Cash Flow?

• Money owed to a company by its clients or customers

• Wealth in the form of money or other assets owned by a business

• The total amount of money being transferred into and out of a business

• The direct costs associated with producing goods

What is the definition of COGS (Cost of Goods Sold)?

• Money owed to a company by its clients or customers

• Wealth in the form of money or other assets owned by a business

• The direct costs associated with producing goods

• The reduction in the value of an asset over time

What is the definition of Collateral?

• Money owed to a company by its clients or customers

• Something pledged as security for a loan

• The direct costs associated with producing goods

• The reduction in the value of an asset over time