PBMF Vocab Flashcard Week 9 and 10

Front

Accounting is the systematic recording, reporting, and analysis of financial transactions to provide meaningful financial information.

Back

True

Front

Revenue is the amount of ___________ a business receives over time.

Back

money

Front

Income not from the primary business goal:

Back

Non-operating Revenue

Front

Daily expenses in business operations:

Back

Operating Expenses

Front

Expenses not essential for daily business operations:

Back

Discretionary Expenses

Front

Tabulation of all business expenses, excluding taxes and interest:

Back

Total Expenses

Front

Flexible and Variable Expenses are the same.

Back

True

Front

Gross profit is the cost directly associated with making or acquiring products.

Back

False

Front

Sales Figures indicate revenue generated by a business.

Back

True

Front

Money earned after taxes:

Back

Net Income