WorksheetsFinancial Terms Quiz 2
Total questions: 15
Worksheet time: 8mins
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
What is the definition of Debt?
Money owed to a company by its clients or customers
Something pledged as security for a loan
Money that a company owes and needs to pay back
The reduction in the value of an asset over time
What is the definition of Depreciation?
Money owed to a company by its clients or customers
Something pledged as security for a loan
Money that a company owes and needs to pay back
The reduction in the value of an asset over time
What is the definition of Equity?
Ownership in a company, typically in the form of shares
Something pledged as security for a loan
Money that a company owes and needs to pay back
The reduction in the value of an asset over time
What is the definition of Gross Profit?
Ownership in a company, typically in the form of shares
The profit a company makes after subtracting the costs associated with producing and selling its products
Money that a company owes and needs to pay back
The reduction in the value of an asset over time
What is the definition of Income Statement (or Profit & Loss Statement)?
Ownership in a company, typically in the form of shares
The profit a company makes after subtracting the costs associated with producing and selling its products
The goods and materials a business holds for the ultimate goal of resale or repair
The reduction in the value of an asset over time
