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Balance Sheet
22問 • 1年前
  • Mitsyyyy_cutie
    • 通報

    問題一覧

  • 1

    A portrait of the financial standing of a business at a point in time.

    Balance Sheet

  • 2

    It shows what your business owns and what it owes.

    Balance Sheet

  • 3

    will show a summerry if a company's assets, liabilities, and owner's equity at a specific point in time

    balance sheet

  • 4

    Why prepare a balance sheet?

    • to evaluate its financial health • to evaluate financial performance and making financial business decisions

  • 5

    What are the balance sheet terms?

    Assets Liabilities Owner's Equity

  • 6

    What is included in balance sheet?

    Current Assets (Short-term Assets) Cash Account Receivable Inventory Supplies Non Current Assets (long term) Land Buildings And Improvements Furnitures And Fixtures General Equipments Intangible Assets

  • 7

    Net worth or paid-in capital and is the amount owners have invested in the business.

    Owner's Equity

  • 8

    Amount of principle that will be due within one year of the date of the balance sheet

    Current Portion Of Long-term Debt

  • 9

    A debt that is due more than one year(long term liabilities)

    Non-Current Liabilities

  • 10

    Earnings that are REINVESTED in the business after the deduction of any dividends.

    Retained Earnings

  • 11

    A long due to creditors.

    Current Liabilities

  • 12

    short-term loans typically owed by the business from purchases made on credit from suppliers or vendors.

    Accounts Payable (A/P)

  • 13

    Taxes that have accrued but have NOT YET BEEN PAID.

    Taxes Payable

  • 14

    are items that are not expected to take more than one year to be consumed or converted into cash (Long Term Assets).

    Non-Current Assets

  • 15

    money owed by customers who purchased goods or services on credit that was provided by the company.

    Accounts Receivable (A/R)

  • 16

    Example rent or insurance.

    Prepaid Expenses

  • 17

    Are items owned by a business.

    Assets

  • 18

    Are items that are expected to be sold or turned into a cash within one year (Short-term)

    current assets

  • 19

    Is considered the MOST LIQUID of all assets.

    Cash

  • 20

    What are the types of liabilities in balance sheet?

    Accounts Payable (A/P) Taxes Payable Salaries/Wages Payable Interest Payable

  • 21

    Are debts for the business and will include short-term and long-term ______?

    Liabilities

  • 22

    Why does a balance sheet balance?

    Assets = Liability + Equity

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    問題一覧

  • 1

    A portrait of the financial standing of a business at a point in time.

    Balance Sheet

  • 2

    It shows what your business owns and what it owes.

    Balance Sheet

  • 3

    will show a summerry if a company's assets, liabilities, and owner's equity at a specific point in time

    balance sheet

  • 4

    Why prepare a balance sheet?

    • to evaluate its financial health • to evaluate financial performance and making financial business decisions

  • 5

    What are the balance sheet terms?

    Assets Liabilities Owner's Equity

  • 6

    What is included in balance sheet?

    Current Assets (Short-term Assets) Cash Account Receivable Inventory Supplies Non Current Assets (long term) Land Buildings And Improvements Furnitures And Fixtures General Equipments Intangible Assets

  • 7

    Net worth or paid-in capital and is the amount owners have invested in the business.

    Owner's Equity

  • 8

    Amount of principle that will be due within one year of the date of the balance sheet

    Current Portion Of Long-term Debt

  • 9

    A debt that is due more than one year(long term liabilities)

    Non-Current Liabilities

  • 10

    Earnings that are REINVESTED in the business after the deduction of any dividends.

    Retained Earnings

  • 11

    A long due to creditors.

    Current Liabilities

  • 12

    short-term loans typically owed by the business from purchases made on credit from suppliers or vendors.

    Accounts Payable (A/P)

  • 13

    Taxes that have accrued but have NOT YET BEEN PAID.

    Taxes Payable

  • 14

    are items that are not expected to take more than one year to be consumed or converted into cash (Long Term Assets).

    Non-Current Assets

  • 15

    money owed by customers who purchased goods or services on credit that was provided by the company.

    Accounts Receivable (A/R)

  • 16

    Example rent or insurance.

    Prepaid Expenses

  • 17

    Are items owned by a business.

    Assets

  • 18

    Are items that are expected to be sold or turned into a cash within one year (Short-term)

    current assets

  • 19

    Is considered the MOST LIQUID of all assets.

    Cash

  • 20

    What are the types of liabilities in balance sheet?

    Accounts Payable (A/P) Taxes Payable Salaries/Wages Payable Interest Payable

  • 21

    Are debts for the business and will include short-term and long-term ______?

    Liabilities

  • 22

    Why does a balance sheet balance?

    Assets = Liability + Equity