Font size
WorksheetsObj. 1.02 - Financial Information Terms Review
Total questions: 20
Worksheet time: 11mins
Any record or data related to an individual or a business's financial activity is considered (a) .
What are some examples of financial information?
wages/salary
investments, savings accounts, and other assets
bank deposits and withdrawals
safe deposit box
Accounts payables are
lottery winnings
debts a business owes
___________ is the process of gathering, recording, organizing, and reporting financial data.
balances
credit cards
accounting
A balance sheet is used to see a business's assets and liabilities
False
True
What type of reports or statements are used to seek info about a company?
balance sheet
financial statement
credit card statement
Is financial information useful?
True
False
The guide used for accounting practices and procedures is called the ___________.
GAAP
GDP
IRS
IFRS stands for _____ _____ _____ ____.
International Financial Reporting Standards
Individual Finance Revenue Services
International Federation of Reserve Services
Decision making in business is predicted by _______
trends
debt
Money that is owed to a company is __________
accounts receivable
bill
asset
To be unchanging is considered -----------
consistent
flexible
neutral
An estimate of income and expenditures over a certain period of time is _____________
budget
accounts payable
profit
To buy or obtain is ___________
acquire
research
spend
A gain or loss on an investment over a certain period of time is ___________.
rate of return
accounting
negotiation
investment
A company whose shares are traded on the stock exchange is a ___________.
corporation
partnership
public company
A _________ is a change or development in a certain direction.
trend
purchase
budget
contract
An _________ is a financial record that measures a company's performance during a certain period of time.
income statement
asset
____________ is NOT the ability to yield a financial gain.
False
True
Accounts payable is money a company owes.
True
Galse
