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30 Cards in this Set

  • Front
  • Back
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
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