REDEPTION (ENTREP) Flashcards
It is a separate legal personality created by Law
Corporation
It summarizes what is going to happen to the business if plans are carried out well.
Financial statements
Which the corporation would have to pay back in terms or principal payments and in terms of interest expenses
Loans
The one that will conduct an account called depreciation
Accountant
They are the finished goods when sold
Cost of goods sold
These are the selling, general and administrative expenses
Period costs
These are the funds going from one container or one circle to another container or another circle comprise and fund flow except for the account called depreciation
Funds flow
It is a situation where cash inflows greater than cash outflow
Netcash outflow
It is the basis for the entire construction of the financial statement
Double entry accounting
These are the stockholder’s equity, short term debt, long term debt, suppliers credit, and accused expenses
Liabilities
These are the accounts for cash, accounts receivable, inventory, fixed assets, other assets.
Container of funds
It is the source of funds
cash
It is the uses of funds
None of the above
These are abstractions of all business transactions going on in an enterprise
Financial Statement
It is also called the profit and loss statement
Income Statements
Whenever we talk about the ______________, Assets must always equal liabilities and owner’s equity.
balance sheet
Premium Paid by the enterprise for an asset or share of stock whose book value is lower than the purchase or acquisition price
Good will
are payments to holders of an invention or technology
Patents
Forecasting _____________ requires an assessment of enterprise’s future requirements for land, building, machinery, equipment, furniture, fixtures and other long lasting assets
Fixed assets
If the cash goes below the minimum balance, forecaster an cover the cash shortfall by obtaining more loans, by liquidating __________________ into cash
Marketable securities
Marketable securities can be the repository of excess cash. It can be drawn down or reduced if the ___________________ falls below the minimum required
Cash balance
______________ may also decide to collect all of the advances and not give any more of such advances to employees, in which case the advances to employees becomes zero for the next year
Enterprise
The construction and forecasting of financial statements would help the ______________get a firmer grip on the viability of his or her enterprise
Entrepreneur
To determine the _________________ the forecaster has to refer to the depreciation schedules calculated by the enterprise’s accountants for each fixed asset.
depreciation expenses
