FOR SEMIS Flashcards
TRUE OR FALSE:
Personnel evaluation and training are important to assess and improve the productivity of your manpower
TRUE
_____ usually consists of taxes; licenses and fees; electricity, water, and telephone expenses; salaries/wages of accountants, clerks, janitors, and transportation expenses
ADMINISTRATIVE EXPENSES
_____ refers to the expenditures incurred in generating revenues
COSTS
____ measures how well a company manages its cash position, meaning how well the company generates cash to pay its debt obligations and fund its operating expenses
CASH FLOW STATEMENT
______ are written records that convey the business activities and the financial performance of a company
FINANCIAL STATEMENTS
includes coins, currency, checks, money orders, bank deposits, and bank drafts
CASH
TRUE OR FALSE:
estimated costs of goods can be based on the tags affixed to the various items in a mall
TRUE
TRUE OR FALSE:
The long-range plans may extend from three to ten years of operation
TRUE
refers to the use of superior technology in processing or producing goods, which gives enterprises a competitive edge
MACHINE
refers to the list of your assets, your liabilities, and your capital or the amount of your money that you invested in your enterprise
BALANCE SHEET / FINANCIAL POSITION
a routine that usually ends when all basic transactions have been entered accurately in the book of accounts
BOOKKEEPING
the difference between the total revenues and total costs
(total revenues - total costs = ????)
NET INCOME / NET PROFIT
refers to the lists of your business’s income and all your business expenses
INCOME STATEMENT
