business Exam 5
the sarbanes oxley act
restricts the types if non audit services auditors can provide audit clients
The most common liquid assets an individual has are
savings accounts and checking accounts
won over $100,000 and insured by
savings association insurance fund
Items that groups of people use as money must be ____ to be acceptable mediums of exchange
scarce, divisible, portable and durable
The oldest and largest organized securities exchange in the United States is the
NYSE
The ---System is the first electronic base stock market and the largest over-the-counter market
Nasdaq
--- is the weekday newspaper that provides the most complete and up-to-date coverage of Business and financial news and analysis.
The wall street journal
In Finance ---is a potential for loss
risk
a___is a yearly document that describes a firms financial status
annual report
Of the following statements about the financial planning process is true
as you develop a plan, you should consider the various alternatives that will help you achieve your goal and choose the best one.
the letters of ATM stand for
automated teller machine
Which Of the following statements about overdrawing your account is true
banks offer bounce protection plans in their advertising and etc
---are long-term debt obligations of corporations
bonds
Another Name for a cash flow plan is a
budget
- - -budgets our forecast for outlays for fixed assets usually covering a period of several years
capital
Funds invested in Long live assets such as land buildings machinery and equipment are called
capital expenditures
Financial Managers focus on---the inflow and outflow of cash
cash flows
an accountant who has a bachelors degree
certified public accountant
- - -invest in new businesses in return for part of the ownership
venture capitalists
- - -management is the art and science used to determine the most effective ways to acquire and use funds to achieve the firms goals
financial
The financial planning process begins with
financial forecasts
Personal --- is the process of managing one's personal finances to achieve financial goals
financial planning
to ensure accuracy and consistency in the way financial information is reported, accountants follow the rules as:
generally accepted accounting principles
Proponents of bank consolidation believe that it will
improve operating efficiency, increase customer convenice, and ect
The ____ summarizes an organization's financial status at the end oven accounting period.
income statement
- - -Bonds are high-risk high return bonds that were often used to finance mergers and acquisitions and the 1980s.
junk
Performed By the federal reserve system as it carries out its monetary policy
loaning money to consumers
Thrift Institutions were formed specifically to encourage household savings and to
make home mortgage loans
- - -is an individuals wealth at a given point in time.
networth
Short term expenses use to support current production and selling expenses are called--- expenses
operating
The financial accounting standards board is:
private organization that is responsible for establishing financial accounting standards in the united states
money is used as
a medium of exchange, a standard of value, a store of value, and ect
managerial accounting provides information that would probably be most beneficial to:
a middle manager of the company
The three most popular types of marketable securities are treasury bills certificates of deposit and
commercial paper
- - -stock is a security that represents an ownership interest in a corporation and has voting rights
common
he has voting rights and shares in the profits he owns---stock
common
Two types of equity securities are
common and preferred stock
opponents of bank consolidation believe that it will
concentrate power in large non personal financial institutions
The___processes and clears checks between financial institutions
federal reserve
trademarks, franchises, Patents, and copyrights are carried on the companies Books as
intangible assets
accounting provides a framework for looking at:
past performance, current financial health, ect
Dividends are
payments to shareholders from company earnings
a mutual fund
pools investors funds to buy a selection of securities that meet stated investment
When a firm goes public it must reveal such information as
product details, operating data and ect
are independent accountants who serve organizations and individuals on a fee basis
public accountants
What should be your first step in balancing your checking account the bank sends you your canceled checks
put the checks in numerical order
her share of p&g's distributed profits
dividends
in accounting every transaction must be recorded as two entries this is called:
double entry bookkeeping
Which Of the following businesses would be most likely to require an unsecured bank loan such as a line of credit or a revolving credit agreement
a christmas tree farm
Which of the following would be example of liability that might be shown on individual's personal balance sheets
a credit card bill