Financial Management questions and answers well illustrated.

Financial Management questions and answers well illustrated. Assets - correct answers.Items of value owned by a business Balance sheet - correct answers.A financial statement that lists, what a business owns (assets), what a business owes (liabilities), and how much it is worth at a particular point in time Break-even point - correct answers.Volume of sales that must be made to cover all the expenses of a business Cash flow statement - correct answers.An accounting report that describes the cas that flows in and out of a business Check register - correct answers.A book in which one records the dates, amounts, and names of people to who checks have been written Collateral - correct answers.Property the borrower forfeits if he or she defaults on a loan Cost of goods sold - correct answers.The cost of the inventory a business sells durnig a particular period Debt capital - correct answers.Money loaned to a business with the understanding that the money will be repaid, with interest, in a certain time period Equity capital - correct answers.Money invested in a business in return for a share in the business's profits Fixed costs - correct answers.Fees that must be paid regardless of how much a good or service is produced General journal - correct answers.Used to record any kind of transaction