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Which term refers to the amount of revenue that remains after expenses for the period are subtracted from profits?
entrepreneur
net income
money is paid to creditors
character
character
eliminates accounting errors
year
preparing a trial balance
On a balance sheet, the balance in accounts payable decreases when ____.
entrepreneur
net income
money is paid to creditors
character
character
eliminates accounting errors
year
preparing a trial balance
Which of the five C’s of credit refers to your business’s ability to repay the loan on time?
entrepreneur
net income
money is paid to creditors
character
character
eliminates accounting errors
year
preparing a trial balance
Comments from creditors are helpful to a bank when assessing a would-be borrower’s ____.
entrepreneur
net income
money is paid to creditors
character
character
eliminates accounting errors
year
preparing a trial balance
An accounting period for a small business usually covers one ____.
entrepreneur
net income
money is paid to creditors
character
character
eliminates accounting errors
year
preparing a trial balance
What is a benefit of using accounting software for computerized posting?
entrepreneur
net income
money is paid to creditors
character
character
eliminates accounting errors
year
preparing a trial balance
A person who follows his or her dreams by assuming the risk of starting a new business is a(n) ____.
entrepreneur
net income
money is paid to creditors
character
character
eliminates accounting errors
year
preparing a trial balance
The final step of the accounting cycle is ____.
entrepreneur
net income
money is paid to creditors
character
character
eliminates accounting errors
year
preparing a trial balance
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