BA 100 Exam 1 questions well answered to pass rated A+
1. Net Sales inflows from selling goods and providing
services. This term is often used
interchangeably with rev- enues.
2. Expenses Outflows that are a result of running the
business
3. Costs of Goods Sold (COGS) The expenses related to the business'
producing a
good, such as purchased materials and the
labor used in production
4. general and administrative expenses The expenses indirectly related to the
business' pro-
ducing a hood or providing a service, such as
rent, utilities, insurance, and other overhead
costs
5. Depreciation Expenses Account for the reduction of value of an asset
6. Income money received, especially on a regular basis,
for work or through investments.
7. Gross margin The ditterence between net sales and cost of
goods sold
8. Operating income The ditterence between gross margin and
general administrative expenses including
depreciation ex- penses
9. Net Income Also known as net profit, is the ditterence
between operating income and income taxes
10. Gains Increases in equity from transactions or other
events
1/
14
, BA 100 Exam 1 questions well answered to pass rated A+
11. Losses Reductions in equity from transactions and
other events
2/
14
1. Net Sales inflows from selling goods and providing
services. This term is often used
interchangeably with rev- enues.
2. Expenses Outflows that are a result of running the
business
3. Costs of Goods Sold (COGS) The expenses related to the business'
producing a
good, such as purchased materials and the
labor used in production
4. general and administrative expenses The expenses indirectly related to the
business' pro-
ducing a hood or providing a service, such as
rent, utilities, insurance, and other overhead
costs
5. Depreciation Expenses Account for the reduction of value of an asset
6. Income money received, especially on a regular basis,
for work or through investments.
7. Gross margin The ditterence between net sales and cost of
goods sold
8. Operating income The ditterence between gross margin and
general administrative expenses including
depreciation ex- penses
9. Net Income Also known as net profit, is the ditterence
between operating income and income taxes
10. Gains Increases in equity from transactions or other
events
1/
14
, BA 100 Exam 1 questions well answered to pass rated A+
11. Losses Reductions in equity from transactions and
other events
2/
14
