BUS 1350 – Final Exam MCQ Review, Risinger, Baylor University, 2026 – Multiple-choice
practice and study material
Synonym for Profit Loss (PL) Statement - correct answer ✔✔ Income Sheet
Amortization schedule - correct answer ✔✔ A table that provides the schedule of payments
used to repay a loan. Shows how payments are split into paying off interest and principal.
Cash flow - correct answer ✔✔ An indicator of the direction of money to and from an individual
or company.
Cost of goods sold - correct answer ✔✔ Any expenses directly related to production.
DB Function - correct answer ✔✔ Calculates the declining balance depreciation in which the
asset depreciates by a constant percentage.
Declining balance depreciation - correct answer ✔✔ The depreciation of an asset by a constant
percentage each year rather than a constant amount.
Depreciation - correct answer ✔✔ The process of allocating the original cost of an asset over
the lifetime of the asset.
FV Function - correct answer ✔✔ Calculates the future value of a loan or an investment.
growth trend - correct answer ✔✔ A series in which values change by a constant percentage.
Income Statement - correct answer ✔✔ A document that shows how much money a business
makes or loses over a specified period of time (Also called Profit Loss (PL) Statement).
practice and study material
Synonym for Profit Loss (PL) Statement - correct answer ✔✔ Income Sheet
Amortization schedule - correct answer ✔✔ A table that provides the schedule of payments
used to repay a loan. Shows how payments are split into paying off interest and principal.
Cash flow - correct answer ✔✔ An indicator of the direction of money to and from an individual
or company.
Cost of goods sold - correct answer ✔✔ Any expenses directly related to production.
DB Function - correct answer ✔✔ Calculates the declining balance depreciation in which the
asset depreciates by a constant percentage.
Declining balance depreciation - correct answer ✔✔ The depreciation of an asset by a constant
percentage each year rather than a constant amount.
Depreciation - correct answer ✔✔ The process of allocating the original cost of an asset over
the lifetime of the asset.
FV Function - correct answer ✔✔ Calculates the future value of a loan or an investment.
growth trend - correct answer ✔✔ A series in which values change by a constant percentage.
Income Statement - correct answer ✔✔ A document that shows how much money a business
makes or loses over a specified period of time (Also called Profit Loss (PL) Statement).
