Intro To Business Ch 12 Part II Question Preview (ID: 22920)

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This is an estimate of the actual money a business received and paid out for a specific period.
a) cash budget
b) start-up budget
c) operating budget
d) short-term budget

Liabilities are
a) what a company owes
b) the value of the owners' investment in the company
c) what a company owns
d) what a company has on hand to sell

All of the following are fixed assets EXCEPT
a) inventory
b) land
c) expensive technology
d) all of the above are fixed assets

A company's sales and profits for a specific period are listed in the company's
a) income statement
b) operating budget
c) balance sheet
d) cash budget

Which of the following payroll deductions is NOT a payroll tax?
a) health insurance
b) income tax
c) Social Security and Medicare
d) unemployment tax

A company's current assets divided by the current liabilities is the
a) current ratio
b) debt to equity ratio
c) return on equity ratio
d) net income ratio

All income that a business receives over a period of time is called...
a) revenue
b) expenses
c) payroll taxes
d) current ratio

Ratio that tells you how much the business is relying on money borrowed from others.
a) debt to equity ratio
b) current ratio
c) payroll ratio
d) assets ratio

Amounts a company will pay off within a year...
a) current liabilities
b) current assets
c) long-term liabilities
d) long-term assets

Things that lower the value of a company
a) liabilities
b) assets
c) owner's equity
d) balance sheet

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