This is the amount of money left after ALL business costs and expenses have been subtracted from all business income.

A method of bookkeeping where one entry is made for each financial transaction (revenue or expense), just like in your checkbook. It is not self-balancing, so errors are more common.

This accounting method states that every financial transaction has equal and opposite effects in at least two different accounts. It requires that the debit amounts must always equal the credit amounts. A debit refers to an entry on the left side of an account, and a credit refers to an entry on the right side of an account.

This will measure how well a company manages its cash position and how well the company generates cash to pay its debts and fund its operating expenses.

This is total revenue generated by the business minus just the cost of the goods sold.

This term is used to describe the unexplained loss of inventory (products) from a business.

This term refers to the ways in which products reach customers and where the products can be purchased.

This term refers to the items kept in stock by the business. Example: cups, lids, straws, milk, syrups, sauces.

This term refers to the procedures used to properly inspect new shipments for accuracy, spoilage, or damage.

If the business fails to order enough products and supplies to satisfy customer demand, what will likely happen?

This is the name given to a business that sells goods and services to other businesses. (Pippin Wholesale Company is one of these for our School Based Enterprise.)

To properly receive merchandise, you should take the invoice or packing slip and compare this list of items to:

During the receiving process, any discrepancies (such as missing items, damage, or spoilage) should be:

This is the path a product takes from its producer or manufacturer to its final user.

This financial document shows how profitable the business was over a given period of time, usually a year. It lists all business revenue/income, minus all expenses/losses.

This financial document summarizes the net worth of a business at a specific point in time. It lists all assets minus all liabilities to arrive at the net worth (equity) of the business.

This is taking the property of another person by means of force or fear.

This is illegal entry into a building to commit a theft and usually occurs when the business is closed.

This refers to the steps businesses take to reduce lost profits. The causes of lost profits include theft, fraud, and errors.

When you make a purchase with a credit card, you should remember that credit is a:

What is the benefit to a business of having written records of financial transactions?

In order to learn how to use an unfamiliar piece of equipment at work, you should:

This is an unsafe condition in the workplace:

This is an unsafe act in the workplace.

Good "housekeeping" includes removing debris and spills from the floor. This is an important safety activity because it will:

What is the purpose of health and safety regulations?