BML Chapter 8 Set 3: Question Preview (ID: 8293)


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Which of these is like a credit rating and tells you how much a business relies on borrowed money?
a) return on equity ratio b) current ratio c) sin and iniquity ratio d) debt to equity ratio
Which of these is almost always on an earnings report?
a) current deductions b) interest earned on a 401(k) retirement account c) number of sick leave days earned d) job title
Which of these is the best source of budget information for an existing company?
a) CNN Money b) the Wall Street Journal c) future budgets d) past budgets
The costs associated with operating a business
a) revenue b) expenses c) liabilities d) assets
Which of these are the first and last steps in the budgeting process?
a) list types of expenses and revenue, calculate net income or loss b) gather information on revenue and expenses, calculate net income or loss c) gather information on revenue and expenses, list types of expenses and revenue d) list types of expenses and revenue, explain the budget to decision-makers for the company,
Which of these is a snapshot of the big picture of a company and includes all assets, liabilities and owner's equity?
a) income statement b) earnings reports c) balance beam d) balance sheet
Which of these is the basic financial equation?
a) revenue - expenses = profit (or loss) b) expenses + liabilties = profit c) assets + liabilities = revenue d) money - bills = less money
Which of these is the balance of the balance sheet?
a) revenue - expenses = profit b) equity - liabilities = debt c) assets = liabilities + owners equity d) profit - expenses = assets
The amount of money a company owes
a) liabilities b) assets c) losses d) profits
Which of these is a common payroll deduction?
a) unemployment tax b) FICA c) mortgage payment d) food subsidies
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