The strategic planning and directing of financial resources to achieve objectives is:

Who is the top executive responsible for financial planning and strategy?

Which field of finance deals with tax collection and government budgets?

This person handles company funds, investments, and financial risks:

A legal agreement with monetary value that can be traded or exchanged is:

The act of putting money into assets to earn a future return is:

A financial plan that shows expected income and expenses is:

Which field of finance focuses on the financial activities of businesses?

Which field of finance focuses on individual financial planning?

Money borrowed with an agreement to repay it with interest is:

Who oversees accounting records, budgets, and financial reports?

People who approve major financial decisions in an organization are:

Financial resources owned that can bring future benefits are:

Money the business owes, to be paid in the future is:

Ownership interest in a company, such as common or preferred shares, is:

A financial institution that accepts deposits and gives loans is:

A financial institution that offers protection against risks is:

Firms that help people and businesses invest money are:

Member-owned financial groups that support members financially are:

Step in the accounting cycle that involves identifying and analyzing business transactions:

The book where business transactions are first recorded chronologically:

A specific record of a single transaction within the journal is called:

The process of transferring debits and credits from the journal to the ledger is called:

The ledger that shows all accounts used by a business is:

The trial balance prepared before adjusting entries is:

An adjusting entry that records unpaid but incurred expenses is:

The process that spreads the cost of a tangible asset over its useful life:

The process that spreads the cost of an intangible asset over its useful life:

Adjusted financial document that ensures debits still equal credits after adjustments:

Formal reports created to summarize the company's financial performance and position:

Closing entry transfers temporary account balances to this permanent account:

The final trial balance that includes only permanent accounts is:

Financial statement that answers “Is the business making a profit?”:

Financial statement that shows what the company owns and owes:

Financial statement that answers “Where is the money coming from and going?”:

Financial statement that tracks changes in owner’s capital:

Direct cost of producing goods or services sold:

Expenses not directly tied to production like rent and utilities:

Financial result when expenses exceed income:

Allocation of the cost of a tangible asset over its useful life is:

The trial balance that contains only permanent accounts after closing entries is:

Costs incurred in running the business, such as rent and salaries:

Income earned by rendering services or selling products is:

The type of entry made when rent or insurance is paid in advance:

An estimate of accounts receivable that will not be collected is:

Cash inflow/outflow from sales and payment of daily operations is classified as:

Cash activity from buying or selling long-term assets is:

Cash flow section for loans, repayments, or owner’s capital is:

Assets expected to be converted to cash within a year are:

Liabilities payable beyond one year are:

The formula used in the Statement of Owner’s Equity is:

Example transaction: Buying a laptop with cash worth ₱30,000 is recorded as:

The step where temporary accounts (revenues, expenses, drawings) are closed:

The step in the accounting cycle where financial statements are prepared: