AGBU 2389 Final questions with 100% correct
answers graded A+ updated
1. Balance sheet A systematic organization of everything owed
and owned by a business or individual
2. Cost of production Average cost of producing one unit of a
commod- ity
3. The balance sheet and income Are two ditterent yet related financial
state- ment statements
4. Enterprise budget Provides an estimate of the potential
revenue, expenses, and profit for a
single enterprise
5. False Assets=liabilities-owner equity
6. Liabilities An obligation or debt owed to someone
else, or an outsiders claim against one or
more of the business assets
7. Ownership expenses Also known as fixed expenses
8. Liquidity and solvency Two concepts that a business would use
to mea- sure their financial position
9. Break even yield The yield necessary to cover all costs at a
given output price
10. Point in time The balance sheet summarizes the financial
con- dition of the business at a
11. Liquid assets Goods that have already been produced
that can be sold quickly and easily without
disrupting fu- ture production activities
12. Enterprise budgets Also known as building blocks
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,AGBU 2389 Final questions with 100% correct
answers graded A+ updated
13. No Are all cash receipts counted as revenue on
the income statement
14. Profitability Concerned with the profit relative with the
size of the business
15. Revenue section Gain or loss on the sale of capital assets
shows up in this section
16. Budget Reflects the manager's best estimate as to
what will happen in the future if the
current plan is followed
17. Break even price The price needed to cover all costs at a
given output level
18. Operating costs Another term for economic variable costs
19. Non current asset An asset not classified as a current asset
20. Income statement Shows a summary of the revenue and
expenses over a period of time
21. Equity/asset ration Not to exceed one
22. $27,995 Working capital
23. Current ratio How well a business met financial
obligations. A value greater than one is
preferred
24. .029 Debt/asset ratio
25. Solvency A long term measure of liabilities and
provides indication that all debts can be
2/
18
, AGBU 2389 Final questions with 100% correct
answers graded A+ updated
paid ott if the business is sold
3/
18
answers graded A+ updated
1. Balance sheet A systematic organization of everything owed
and owned by a business or individual
2. Cost of production Average cost of producing one unit of a
commod- ity
3. The balance sheet and income Are two ditterent yet related financial
state- ment statements
4. Enterprise budget Provides an estimate of the potential
revenue, expenses, and profit for a
single enterprise
5. False Assets=liabilities-owner equity
6. Liabilities An obligation or debt owed to someone
else, or an outsiders claim against one or
more of the business assets
7. Ownership expenses Also known as fixed expenses
8. Liquidity and solvency Two concepts that a business would use
to mea- sure their financial position
9. Break even yield The yield necessary to cover all costs at a
given output price
10. Point in time The balance sheet summarizes the financial
con- dition of the business at a
11. Liquid assets Goods that have already been produced
that can be sold quickly and easily without
disrupting fu- ture production activities
12. Enterprise budgets Also known as building blocks
1/
18
,AGBU 2389 Final questions with 100% correct
answers graded A+ updated
13. No Are all cash receipts counted as revenue on
the income statement
14. Profitability Concerned with the profit relative with the
size of the business
15. Revenue section Gain or loss on the sale of capital assets
shows up in this section
16. Budget Reflects the manager's best estimate as to
what will happen in the future if the
current plan is followed
17. Break even price The price needed to cover all costs at a
given output level
18. Operating costs Another term for economic variable costs
19. Non current asset An asset not classified as a current asset
20. Income statement Shows a summary of the revenue and
expenses over a period of time
21. Equity/asset ration Not to exceed one
22. $27,995 Working capital
23. Current ratio How well a business met financial
obligations. A value greater than one is
preferred
24. .029 Debt/asset ratio
25. Solvency A long term measure of liabilities and
provides indication that all debts can be
2/
18
, AGBU 2389 Final questions with 100% correct
answers graded A+ updated
paid ott if the business is sold
3/
18
