4.00 Review

4.01 Isabelle owns a home cleaning business. She invoices her customer and records the transaction as soon as she finishes each home cleaning. Which type of accounting method is Isabelle using?

accrual

4.01 The finance activity regarding how to source income is called:

acquiring funds.

4.01 Cash is an example of:

assets.

4.02 Cliff wants to know how much money his business made this year. He wants to know his business's:

bottom line.

4.01 Which represents the inflow of funds into a business?

cash

4.01 The purpose of having accounting standards is to:

create uniformity between financial statements.

4.01 The Happy Toys Company Board of Directors has decided to give some of its profits from the year to its shareholders. It has decided to pay a:

dividend

4.01 Kathy wants to know whether her boutique made or lost money this month. The financial document she should view is her:

income statement.

4.01 The accounting document that shows a business's revenue and expenses is a/an:

income statement.

4.02 Isaac buys wood from a lumber mill to make some park benches. The wood is part of his:

inputs.

4.02 Molly plans out each part of the operations process to ensure the right item is in the right place at the right time. What part of the operations function is this?

logistics

4.02 A change in products will have the most direct impact on a business's:

operations.

4.02 Jerome makes laptop computers. The laptops are part of his:

output.

4.02 Beverly has noticed that during the holiday season, her business needs more inventory, which also increases her:

profit and revenue.

4.03 Connor is working on a billboard to showcase his new service. What part of the marketing mix is he working on?

promotion

4.02 Dalton diagrams out where each machine in the production process needs to go to maximize the efficiency of the space. What part of the operations function is this?

routing

4.02 Jordan owns a successful landscaping business. Landscaping is an example of a/an:

service.

4.03 Beth wants to hire a disc jockey for her son's graduation party. Deanna offers her a promotional package that includes three hours of music, special effect lighting, and a video. Deanna is marketing:

services.