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30 Cards in this Set
- Front
- Back
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which best describes the process of spreading organizational expenses over a period of years?
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amortization of organizational expenses
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|
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an asset account that has no material property is a/an
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intangible asset account
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income account ratios are used to analyze the relationship between profits and sales. the margin of profit, usually expressed as a percentage, is computed by which of the following formulas?
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net income divided by sales
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|
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which financial statement would indicate whether or not your operation is handling cash properly?
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statement of cash flow
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a bad debt ration is figured by _______ divided by _______ for the previous quarter(s).
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total credit sales/actual bad debt loss
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which of the following is not a fixed expense? office supplies/postage, telephone/utilities, advertising/promotion, small tools
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small tools
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if partnerships have partners' equity, then the original investment by corporate owners is called____.
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capital stock
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a contractor may write a check from the register made out to "cash". it is recommended that_______.
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this practice be avoided, deductions are questionable
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which of the following is a fixed expense? permits/fees, automative gas/oil, salaries/wages, union welfare
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salaries and wages
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|
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delinquent receivables are the amounts due
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more than 30 days
|
|
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which information or items would a contractor have or provide in a loan application package?
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balance sheet, income statement & cash flow projection for 1 year, loan application form, federal income tax return for the previous year
|
|
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net profit from the previous year will be carried on the corporate accounts as _______
account. |
retained earnings
|
|
|
the most common way to chart your accounts receivable trend is to calculate_______.
|
the number of days the average account is outstanding
|
|
|
what is the largest and most variable cost in building today?
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labor
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|
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when cash is taken from a business by moving outstanding balances from one customer account to another, this form of employee theft is called
|
lapping
|
|
|
which best describes the process of spreading organizational expenses over a period of years?
|
amortization of organizational expenses
|
|
|
an asset account that has no material property is a/an
|
intangible asset account
|
|
|
income account ratios are used to analyze the relationship between profits and sales. the margin of profit, usually expressed as a percentage, is computed by which of the following formulas?
|
net income divided by sales
|
|
|
which financial statement would indicate whether or not your operation is handling cash properly?
|
statement of cash flow
|
|
|
a bad debt ration is figured by _______ divided by _______ for the previous quarter(s).
|
total credit sales/actual bad debt loss
|
|
|
which of the following is not a fixed expense? office supplies/postage, telephone/utilities, advertising/promotion, small tools
|
small tools
|
|
|
if partnerships have partners' equity, then the original investment by corporate owners is called____.
|
capital stock
|
|
|
a contractor may write a check from the register made out to "cash". it is recommended that_______.
|
this practice be avoided, deductions are questionable
|
|
|
which of the following is a fixed expense? permits/fees, automative gas/oil, salaries/wages, union welfare
|
salaries and wages
|
|
|
delinquent receivables are the amounts due
|
more than 30 days
|
|
|
which information or items would a contractor have or provide in a loan application package?
|
balance sheet, income statement & cash flow projection for 1 year, loan application form, federal income tax return for the previous year
|
|
|
net profit from the previous year will be carried on the corporate accounts as _______
account. |
retained earnings
|
|
|
the most common way to chart your accounts receivable trend is to calculate_______.
|
the number of days the average account is outstanding
|
|
|
what is the largest and most variable cost in building today?
|
labor
|
|
|
when cash is taken from a business by moving outstanding balances from one customer account to another, this form of employee theft is called
|
lapping
|
