DECA Entrepreneurship (questions n
answers) updated
managerial accounting - correct answer ✔✔capturing the business's day-to-day
financial activities in pursuit of an organization's goals.
commercial banks - correct answer ✔✔banks that offer service to the general
public and companies
debt financing - correct answer ✔✔borrowing money and not giving up
ownership, comes with interest and strict rules
a business's current assets that are listed on financial statements are - correct
answer ✔✔liquid
a common risk of innovation is - correct answer ✔✔Loss of jobs
buyout - correct answer ✔✔the purchase of a controlling share in a company
cash flow statement - correct answer ✔✔a financial statement that shows the
movement in the Cash account of a company. It presents cash inflows (receipts)
and outflows (payments) in the three activities of business: operating, investing,
and financing
Investment - correct answer ✔✔The act of committing money or capital to an
endeavour with the expectation of obtaining an additional income or profit
,Financing - correct answer ✔✔the act of providing funds/capital for business
activities, making purchases or investing and help them achieve their goals
Asset - correct answer ✔✔a piece of property or equipment purchased exclusively
or primarily for business use.
categories of assets: current and non-current, short-term and long-term,
operating and capitalized, and tangible and intangible
Liability - correct answer ✔✔a company's financial debt or obligations that arise
during the course of its business operations
shareholder's equity - correct answer ✔✔the net value of a company, or the
amount that would be returned to shareholders if all the company's assets were
liquidated and all its debts repaid
Liquidate - correct answer ✔✔convert assets into cash or cash equivalents by
selling them on the open market
financier - correct answer ✔✔person or organization that provides capital for a
company
vertical analysis - correct answer ✔✔a method of financial statement analysis in
which each entry for each of the three major categories of accounts (assets,
liabilities and equities), in a balance sheet is represented as a proportion of the
total account
,economic downturn - correct answer ✔✔a fall in economic growth just before
recession
net sales - correct answer ✔✔Net sales are the amount of sales generated by a
company after the deduction of returns, allowances for damaged or missing goods
and any discounts allowed
paradigm shift - correct answer ✔✔A paradigm shift is a major change in how
some process is accomplished. A paradigm shift can happen when new technology
is introduced that radically alters the production process of a good
sovereign immunity - correct answer ✔✔a legal doctrine by which the sovereign
or state cannot commit a legal wrong and is immune from civil suit or criminal
prosecution
eminent domain - correct answer ✔✔the right of a government or its agent to
expropriate private property for public use, with payment of compensation
absolute privilege - correct answer ✔✔a special right, advantage, or immunity
granted or available only to a particular person or group of people
infringement - correct answer ✔✔act of breaking the law or agreements in a
contract
consideration (in contract) - correct answer ✔✔a benefit which must be
bargained for between the parties, and is the essential reason for a party entering
into a contract
, vocational rehabilitation act - correct answer ✔✔prohibits discrimination on the
basis of disability in programs conducted by Federal agencies
fair labor standards act - correct answer ✔✔establishes minimum wage, overtime
pay, record-keeping, and youth employment standards affecting employees
- correct answer ✔✔
open corporation - correct answer ✔✔a corporation whose ownership shares are
available for exchange on a public market
consolidation - correct answer ✔✔combining small companies into one large one
industrial user - correct answer ✔✔a company that buys materials from other
manufacturers to satisfy their own needs
indirect agent - correct answer ✔✔promoters who are third-parties to a business,
like a partner or affiliate, rather than a company's personnels
agent - correct answer ✔✔a person who represents a person or company in
matters of business and who can make business decisions, agreements, etc., for
them
operating policy - correct answer ✔✔a governing principle that mandates or
constrains actions within a business
answers) updated
managerial accounting - correct answer ✔✔capturing the business's day-to-day
financial activities in pursuit of an organization's goals.
commercial banks - correct answer ✔✔banks that offer service to the general
public and companies
debt financing - correct answer ✔✔borrowing money and not giving up
ownership, comes with interest and strict rules
a business's current assets that are listed on financial statements are - correct
answer ✔✔liquid
a common risk of innovation is - correct answer ✔✔Loss of jobs
buyout - correct answer ✔✔the purchase of a controlling share in a company
cash flow statement - correct answer ✔✔a financial statement that shows the
movement in the Cash account of a company. It presents cash inflows (receipts)
and outflows (payments) in the three activities of business: operating, investing,
and financing
Investment - correct answer ✔✔The act of committing money or capital to an
endeavour with the expectation of obtaining an additional income or profit
,Financing - correct answer ✔✔the act of providing funds/capital for business
activities, making purchases or investing and help them achieve their goals
Asset - correct answer ✔✔a piece of property or equipment purchased exclusively
or primarily for business use.
categories of assets: current and non-current, short-term and long-term,
operating and capitalized, and tangible and intangible
Liability - correct answer ✔✔a company's financial debt or obligations that arise
during the course of its business operations
shareholder's equity - correct answer ✔✔the net value of a company, or the
amount that would be returned to shareholders if all the company's assets were
liquidated and all its debts repaid
Liquidate - correct answer ✔✔convert assets into cash or cash equivalents by
selling them on the open market
financier - correct answer ✔✔person or organization that provides capital for a
company
vertical analysis - correct answer ✔✔a method of financial statement analysis in
which each entry for each of the three major categories of accounts (assets,
liabilities and equities), in a balance sheet is represented as a proportion of the
total account
,economic downturn - correct answer ✔✔a fall in economic growth just before
recession
net sales - correct answer ✔✔Net sales are the amount of sales generated by a
company after the deduction of returns, allowances for damaged or missing goods
and any discounts allowed
paradigm shift - correct answer ✔✔A paradigm shift is a major change in how
some process is accomplished. A paradigm shift can happen when new technology
is introduced that radically alters the production process of a good
sovereign immunity - correct answer ✔✔a legal doctrine by which the sovereign
or state cannot commit a legal wrong and is immune from civil suit or criminal
prosecution
eminent domain - correct answer ✔✔the right of a government or its agent to
expropriate private property for public use, with payment of compensation
absolute privilege - correct answer ✔✔a special right, advantage, or immunity
granted or available only to a particular person or group of people
infringement - correct answer ✔✔act of breaking the law or agreements in a
contract
consideration (in contract) - correct answer ✔✔a benefit which must be
bargained for between the parties, and is the essential reason for a party entering
into a contract
, vocational rehabilitation act - correct answer ✔✔prohibits discrimination on the
basis of disability in programs conducted by Federal agencies
fair labor standards act - correct answer ✔✔establishes minimum wage, overtime
pay, record-keeping, and youth employment standards affecting employees
- correct answer ✔✔
open corporation - correct answer ✔✔a corporation whose ownership shares are
available for exchange on a public market
consolidation - correct answer ✔✔combining small companies into one large one
industrial user - correct answer ✔✔a company that buys materials from other
manufacturers to satisfy their own needs
indirect agent - correct answer ✔✔promoters who are third-parties to a business,
like a partner or affiliate, rather than a company's personnels
agent - correct answer ✔✔a person who represents a person or company in
matters of business and who can make business decisions, agreements, etc., for
them
operating policy - correct answer ✔✔a governing principle that mandates or
constrains actions within a business
