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