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WorksheetsPOBF - Unit 6 Finals Review
Total questions: 21
Worksheet time: 21mins
Accounting is:
the process of obtaining funds and using them to achieve the goals of the business.
a measure of how well a business generates cash flow in relation to the capital it has already invested in itself.
the methods and procedures used in consistently handling the business's financial information records.
the process of keeping and interpreting financial records.
An accounting system is:
a measure of how well a business generates cash flow in relation to the capital it has already invested in itself.
the process of obtaining funds and using them to achieve the goals of the business.
the methods and procedures used in consistently handling the business's financial information.
the process of keeping and interpreting financial records.
The accrual accounting method is:
an accounting method in which income and expenditures are recorded at the time the money changes hands.
used to reduce and eliminate costs in a business.
a type of accounting that involves preparing and reporting financial data to internal users who need financial information to control day-to-day operations and to make financial decisions and plans affecting the business.
a method of accounting that records transactions at the time they occur even if no money changes hands at the time.
Cash accounting is;
an accounting method in which income and expenditures are recorded at the time the money changes hands.
a method of accounting that records transactions at the time they occur even if no money changes hands at the time.
used to reduce and eliminate costs in a business.
the process of obtaining funds and using them to achieve the goals of the business.
Cost accounting is:
the process of keeping and interpreting financial records.
the process of obtaining funds and using them to achieve the goals of the business.
used to reduce and eliminate costs in a business. It is used to determine the price for a product or service that will allow earning of a reasonable profit.
the methods and procedures used in consistently handling the business's financial information.
Managerial accounting is;
the process of obtaining funds and using them to achieve the goals of the business.
a type of accounting that involves preparing and reporting financial data to internal users who need financial information to control day-to-day operations and to make financial decisions and plans affecting the business.
a method of accounting that records transactions at the time they occur even if no money changes hands at the time.
a measure of how well a business generates cash flow in relation to the capital it has already invested in itself.
Finance is:
a measure of how well a business generates cash flow in relation to the capital it has already invested in itself.
the process of obtaining funds and using them to achieve the goals of the business.
the process of keeping and interpreting financial records.
management of a firm’s current balance of assets and liabilities; involves accounts payable and receivable, inventory and cash.
Capital investment decisions are:
management of a firm’s current balance of assets and liabilities; involves accounts payable and receivable, inventory and cash.
the process of keeping and interpreting financial records.
the process of obtaining funds and using them to achieve the goals of the business.
decisions that determine which projects a business will invest in, how the investment(s) will be financed, and whether or not to pay dividends to shareholders.
Working capital management is:
the process of keeping and interpreting financial records.
decisions that determine which projects a business will invest in, how the investment(s) will be financed, and whether or not to pay dividends to shareholders.
a measure of how well a business generates cash flow in relation to the capital it has already invested in itself.
management of a firm’s current balance of assets and liabilities; involves accounts payable and receivable, inventory and cash.
The cash conversion cycle of working capital management is:
the process of keeping and interpreting financial records.
A measure of how well a business generates cash flow in relation to the capital it has already invested in itself.
making decisions that determine which projects a business will invest in, how the investment(s) will be financed, and whether or not to pay dividends to shareholders.
a ratio that refers to the number of days between a company’s paying for raw materials and receiving cash from selling the products made from those raw materials.
Return on capital is:
the process of obtaining funds and using them to achieve the goals of the business
a measure of how well a business generates cash flow in relation to the capital it has already invested in itself.
the process of keeping and interpreting financial records.
management of a firm’s current balance of assets and liabilities; involves accounts payable and receivable, inventory and cash.
Which of the following protects employees from liability when they administer first aid to customers?
Health and Human Services Department
Good Samaritan Law
Occupational Safety and Health Administration
Worker's compensation
Which of the following would customers need to present at the time of purchase to get money taken off the purchase price of the item?
Sales receipts
Discount coupons
Rebate certificates
Refund checks
Why is it important for employees to follow instructions when using equipment and machinery?
To speed up production
To increase output
To minimize loss
To decrease overtime
Several employees are facing the possibility of being laid off from work. By concluding that they should look for new jobs before that happens, the are:
solving problems
asking questions
doing research
gathering information
What is one of the main reasons why businesses need to keep accurate accounting records?
to follow procedures
to regulate taxes
to eliminate risks
to control expenses
Businesses would not be able to determine if they are meeting their financial goals without accurate:
accounting systems
production plans
marketing plans
distribution systems
Businesses use the information collected through the accounting process to prepare accurate:
balance sheets.
promissory notes.
inventory forms.
purchase orders.
Assets a company already owns and can use to finance a new venture are called:
equity
dividends
accounts payable
return on capital
When businesses invest funds to expand, they are involved in the process of:
selling
capitalism
finance
depreciation
The role of finance in business often involves:
buying supplies
paying employees
obtaining funds
monitoring expenses
