Exam 17: Financial Statements and Projections for Startups

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.She wants to produce a/an ______.

Norah is interested in developing her payables policy.She wants to make a policy for which of the following?

Bill's business has sales of $100,000,inventory of $20,000,cost of goods sold of $31,000,and general and administrative expenses of $45,000.Bill's operating profit is $4,000.

Sandy's balance sheet is partially completed.However,she has total assets of $120,000 and total shareholders' equity of $15,000.Her liabilities should total $105,000.

A linkage between the financial statements includes which of the following?

Arabella went to her accountant and learned about DOI,defined as ______.

Operating expenses include which of the following?

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.He is interested in producing a/an ______.

Janis went to her accountant and learned about DSO,defined as ______.

Jax went to his accountant and learned about the cash conversion cycle,defined as ______.

Presenting carefully thought-out financial projections to investors is an exercise in lowering perceived risk in both you as an entrepreneur and your idea.

Currents assets are cash and other assets such as inventory,accounts payable,and prepaid expenses that can be converted into cash within a year.

Sandy's balance sheet shows assets of $120,000,liabilities of $100,000,and shareholders' equity of $25,000.Her balance sheet is in balance.

Which of the following are intangible assets?

Goodwill is the price paid for an asset in excess of its book value.

The financial statement in which the cost of goods sold and expenses are subtracted from total revenue to arrive at a net income figure is a/an ______.

______ are assets that can be converted into cash within a year.

When a company has long-term investments,it means it ______.

Compare and contrast the balance sheet and the cash flow statement.

Jaylah has a 5-year bank loan with her business.The principal that is scheduled to be paid in the last 4 years of that 5-year period is considered ______.