Business Management chapter 15-18 Questions and Answers ( 100% pass

Business Management chapter 15-18 Questions and Answers ( 100% pass) are financial records summaries of a business's financial activities and information - ANS- yes is outsourcing usually more expensive than hiring someone into the business who has the needed expertise - ANS- no do dat processing centers prepare and maintain a full set of financial records for other businesses - ANS- yes with a point of sale terminal, is each item that is sold automatically subtracted from the recorded inventory so the computer can calculate when the store needs to reorder merchandise - ANS- yes do accounts receivable records show the money that businesses owe and payments they make to purchase supplies and merchandise on credit - ANS- no are tools and computers used in a business's operations examples of assets - ANS- yes is an employer required to keep complete payroll records that show the hours worked, regular wages paid, overtime wages, and all types of deductions from wages for each employee - ANS- yes Should all critical matters of a business such as leases and contracts he kept on site to offer the greatest protection from loss or damage - ANS- no are budget based on actual costs rather than on projections - ANS- no Doesn't operating budget project in town and expenses from the beginning of a new business until it becomes profitable - ANS- no Do you managers often prepare three budget estimates rather than relying on just one - ANS- yes are financial statements estimates of the businesses financial performance for specific period time in the future - ANS- no are assets and capitals the only categories listed on the balance sheet - ANS- no is the basic accounting equation represented on the balance sheet as assets=liabilities+capital - ANS- yes Can a business determine whether he can pay all it says on a given date from looking at the income statement - ANS- no Does the difference between total revenue and total expenses show the profit for the loss of the business - ANS- yes does money usually slow into and out of a business at the same rate - ANS- no Is the amount of working capital one possible indicator that a business pay is long term - ANS- no What a business with very little working capital find it easy to borrow money - ANS- no Can financial ratios show whether the average monthly inventory might be too large or too small - ANS- yes What type of record shows what each customer owes and pays - ANS- Accounts Receivable record Because of depreciation... - ANS- The companies equipment will be worth less next year than it is today Which fixed asset is least likely to lose its value over time - ANS- land a digital video player becomes an adequate because a fire type technology comes on the market. What term describes this example - ANS- depreciation If budget is used by management for each of the following except - ANS- Determine the amount of profit business will actually recieve a sales budget is... - ANS- Estimate of the sales for the next month or year a financial plan for replacing fixed assets or acquiring new ones is - ANS- a caital budget which of the following is not a result of the use of budgets and budgeting systems - ANS- all are results of using budgets and budgeting systems on which financial statement does a business list the building in which it does the business - ANS- a balance sheet after subtracting liabilities from assets, a business can determine.. - ANS- how much it is worth The balance sheet with you is the basic financial position of a business... - ANS- On a given day another name for an income statement is... - ANS- profit and loss statement