Front

Vivienne wants to produce a report that measures her financial performance on a monthly basis. She wants to see sales and expense-related activities that result in profit or loss over a period of time. She is interested in producing which of the following statements?

Back

income

Front

Arya wants to produce a financial report that shows the amounts the company owes, what it owns, including the shareholders’ stake at a particular date in time. What is she interested in creating?

Back

balance sheet

Front

Karter is very busy and wants to produce a financial report that details the inflows and outflows of cash for his company over the last month. What is he interested in creating?

Back

cash flow statement

Front

Which financial statement expresses net income by subtracting the cost of goods sold and expenses subtracted from total revenue?

Back

income statement

Front

What does the balance sheet show?

Back

what the business owns and what the business owes

Front

Which refers to assets that can be converted into cash within a year?

Back

current

Front

Accounts ______ is the amount that customers owe to a company after receipt of items or services purchased.

Back

receivable

Front

Filadelfia paid $500,000 for a company, $100,000 in excess of the book value. Filadelfia has ______.

Back

goodwill of $100,000

Front

When creating pro forma financial statements, which requires you to consider best, worst, and likely case scenarios?

Back

sensitivity analysis

Front

What is Jamal calculating if he is determining the number of days his company’s cash is tied up in the production and sales process?

Back

cash conversion cycle