Financial Forms Exam

Total debts owed by the business

• total liabilities

• debt ratio

• profit margin ratios

• owner's equity statement

Costs incurred by the business

• fiscal period

• expenses

• financial condition

• current ratio formula

The difference between a company's current assets and current liabilities

• income statement

• working capital

• debt ratio

• current liability

A seller's request for payment from the purchaser.

• Invoice

• Purchase Order

• Balance Sheet

• Income Statement

Allocation of monetary funds based on a determined structure

• Two basic parts of a budget

• Net worth

• Budgeting

• Liability

A specific time period for financial reporting

• fiscal period

• working capital

• debt ratio

• net income

Total assets owned by the business

• total assets

• operating ratio formula

• identify business areas

• financial strength

Income and expenses

• Efficient business decisions

• Step NOT involved in creating a budget

• Two basic parts of a budget

• Budgeting

Short-term debt that must be paid within one year

• stakeholder

• current liability

• financial condition

• debt ratio

A quick overview or summary

• total assets

• financial statement analysis

• pro forma statements

• snapshot