Question 1

Brynlee paid $500,000 for a company, $100,000 in excess of the book value.Brynlee has ______.

Accepted Answer

A) $100,000 of expenses 
B) paid $100,000 too much for this company 
C) goodwill of $100,000 
D) badwill of $100,000 
A) $100,000 of expenses 
B) paid $100,000 too much for this company 
C) goodwill of $100,000 
D) badwill of $100,000

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

Operating expenses include which of the following?

Accepted Answer

A) cost of goods sold 
B) liabilities, deferred expenses, and assets 
C) sales expense and administrative and general expenses 
D) amortization and interest expense 
A) cost of goods sold 
B) liabilities, deferred expenses, and assets 
C) sales expense and administrative and general expenses 
D) amortization and interest expense

Question 4

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

Accepted Answer

A) the price and timing of raw materials, and other goods and services necessary to build, sell, and support products 
B) how pricing will be determined for your products and services 
C) the level of compensation and benefits for each type of position in the business 
D) the process and timing in which obligations to pay for products and services sold will be billed and collected 
A) the price and timing of raw materials, and other goods and services necessary to build, sell, and support products 
B) how pricing will be determined for your products and services 
C) the level of compensation and benefits for each type of position in the business 
D) the process and timing in which obligations to pay for products and services sold will be billed and collected

Question 5

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.

Accepted Answer

A) True 
 B)False

Question 6

Provide the line by line format of an income statement.

Accepted Answer

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Question 7

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 ______.

Accepted Answer

A) balance sheet 
B) cash flow statement 
C) entrepreneurs scorecard 
D) income statement 
A) balance sheet 
B) cash flow statement 
C) entrepreneurs scorecard 
D) income statement

Question 8

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

Accepted Answer

A) the price and timing of raw materials, and other goods and services necessary to build, sell, and support products 
B) how pricing will be determined for your products and services 
C) the level of compensation and benefits for each type of position in the business 
D) the process and timing in which obligations to pay for products and services sold will be billed and collected 
A) the price and timing of raw materials, and other goods and services necessary to build, sell, and support products 
B) how pricing will be determined for your products and services 
C) the level of compensation and benefits for each type of position in the business 
D) the process and timing in which obligations to pay for products and services sold will be billed and collected

Question 9

The cash flow equation coming to Increase/Decrease in Cash from Operations is ______.

Accepted Answer

A) Net Income plus Depreciation & Amortization plus decrease in assets less decrease in liabilities 
B) Net Income plus depreciation and amortization plus increase in liabilities 
C) Net Income plus noncash expenses 
D) Cash from Operations is the same thing as Net Income 
A) Net Income plus Depreciation & Amortization plus decrease in assets less decrease in liabilities 
B) Net Income plus depreciation and amortization plus increase in liabilities 
C) Net Income plus noncash expenses 
D) Cash from Operations is the same thing as Net Income

Question 10

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

Accepted Answer

A) the price and timing of raw materials, and other goods and services necessary to build, sell, and support products 
B) how pricing will be determined for your products and services 
C) the level of compensation and benefits for each type of position in the business 
D) the process and timing in which obligations to pay for products and services sold will be billed and collected 
A) the price and timing of raw materials, and other goods and services necessary to build, sell, and support products 
B) how pricing will be determined for your products and services 
C) the level of compensation and benefits for each type of position in the business 
D) the process and timing in which obligations to pay for products and services sold will be billed and collected

Question 11

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

Accepted Answer

A) net income from the balance sheet is entered into the income statement 
B) net income from the income statement is entered into the retained earnings in the balance sheet 
C) assets have to equal liabilities 
D) cash is the total expenses on the income report 
A) net income from the balance sheet is entered into the income statement 
B) net income from the income statement is entered into the retained earnings in the balance sheet 
C) assets have to equal liabilities 
D) cash is the total expenses on the income report

Question 12

Earnings before interest, taxes, depreciation, and amortization is the same as ______.

Accepted Answer

A) EBT 
B) EBIT 
C) EBITDA 
D) net income 
A) EBT 
B) EBIT 
C) EBITDA 
D) net income

Question 13

Kurt has been given an Excel worksheet with his cash flow statement on it.He, by error, sorted the lines of the statement alphabetically.We need to help Kurt separate his cash flows into two categories: inflows and outflows.Which of the following should be a cash outflow?

Accepted Answer

A) interest on bank loans and overdrafts 
B) customer receipts 
C) fixed asset sales 
D) bank loans 
A) interest on bank loans and overdrafts 
B) customer receipts 
C) fixed asset sales 
D) bank loans

Question 14

Compare and contrast the Income Statement and the Statement of Cash Flows.

Accepted Answer

The income statement takes sales (or rev

Question 15

List five examples of cash inflows.

Accepted Answer

Cash inflows
Cash sales
Custom

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

Provide the line by line format of a balance sheet.

Accepted Answer

The answer of Provide the line by line format of...

Question 18

Goodwill is the price paid for an asset in excess of its book value.This usually occurs when a company acquired another business.

Accepted Answer

A) True 
 B)False

Question 19

To have a good business plan, ______.

Accepted Answer

A) purchase it 
B) develop it yourself, with professional assistance, and think carefully about the assumptions built into the plan 
C) write it on the back of a napkin 
D) go to your friends and family for advice 
A) purchase it 
B) develop it yourself, with professional assistance, and think carefully about the assumptions built into the plan 
C) write it on the back of a napkin 
D) go to your friends and family for advice

Question 20

Arya wants to produce a financial report that shows the amounts the company owes, what it owns, and include her shareholder stake at a particular date in time.She wants to produce a ______.

Accepted Answer

A) balance sheet 
B) cash flow statement 
C) entrepreneurs scorecard 
D) income statement 
A) balance sheet 
B) cash flow statement 
C) entrepreneurs scorecard 
D) income statement

Brynlee paid $500,000 for a company, $100,000 in excess of the book value.Brynlee has ______.

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

Operating expenses include which of the following?

Norah is interested in developing her compensation 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.

Provide the line by line format of an income statement.

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 ______.

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

The cash flow equation coming to Increase/Decrease in Cash from Operations is ______.

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

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

Earnings before interest, taxes, depreciation, and amortization is the same as ______.

Kurt has been given an Excel worksheet with his cash flow statement on it.He, by error, sorted the lines of the statement alphabetically.We need to help Kurt separate his cash flows into two categories: inflows and outflows.Which of the following should be a cash outflow?

Compare and contrast the Income Statement and the Statement of Cash Flows.

List five examples of cash inflows.

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

Provide the line by line format of a balance sheet.

Goodwill is the price paid for an asset in excess of its book value.This usually occurs when a company acquired another business.

To have a good business plan, ______.

Arya wants to produce a financial report that shows the amounts the company owes, what it owns, and include her shareholder stake at a particular date in time.She wants to produce a ______.

Entrepreneurship: a Global Social Movement

Practicing Entrepreneurship

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Building Business Models

Planning for Entrepreneurs

Creating Revenue Models

Learning From Failure

Bootstrapping for Resources

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

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Exam 17: Financial Statements and Projections for Startups

Brynlee paid $500,000 for a company, $100,000 in excess of the book value.Brynlee has ______.

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

Operating expenses include which of the following?

Norah is interested in developing her compensation 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.

Provide the line by line format of an income statement.

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 ______.

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

The cash flow equation coming to Increase/Decrease in Cash from Operations is ______.

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

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

Earnings before interest, taxes, depreciation, and amortization is the same as ______.

Kurt has been given an Excel worksheet with his cash flow statement on it.He, by error, sorted the lines of the statement alphabetically.We need to help Kurt separate his cash flows into two categories: inflows and outflows.Which of the following should be a cash outflow?

Compare and contrast the Income Statement and the Statement of Cash Flows.

List five examples of cash inflows.

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

Provide the line by line format of a balance sheet.

Goodwill is the price paid for an asset in excess of its book value.This usually occurs when a company acquired another business.

To have a good business plan, ______.

Arya wants to produce a financial report that shows the amounts the company owes, what it owns, and include her shareholder stake at a particular date in time.She wants to produce a ______.

Entrepreneurship: a Global Social Movement

Practicing Entrepreneurship

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Building Business Models

Planning for Entrepreneurs

Creating Revenue Models

Learning From Failure

Bootstrapping for Resources

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

the Pitch Deck

Filters