Exam 12: Small Business Accounting: Projecting and Evaluating Performance

Describe the mechanics of a cash flow statement.

A comprehensive budget is also referred to as the:

Identify the managerial accounting technique which looks at the fixed and variable costs of a business to arrive at a number of unit sales to maximize gains.

Identify,define,and briefly explain the three types of accounting.

The ______ is also called the Statement of Financial Position.

_____ analysis is based on the concept that a dollar to be received right now has more utility than does a dollar to be received at some time in the future.

The primary purpose of managerial accounting is to ________.

Which of the following is true of theories based on the bounded rationality models?

Differentiate between income statement and balance sheet.

Which of the following statements is not true of computerized accounting systems?

Statement of cash flows is also referred to as the statement of financial position.

The quantity of items sold times the price expected to be paid for each product is the calculation used for the:

Which among the following is an example of a variable cost?

Financial accounting is primarily intended for:

Which of the following statements is true about fixed costs?

_____ refers to the ability of a business to survive adverse financial events.

One reason why accounting is important to a small business is that it shows how much your business is worth.

Which of the following statements lists revenues and expenses and shows the amount of profit a business makes for a specified period of time?

What are some of the common management decisions that can be aided by the use of accounting information and procedures? Explain.

The "business entity" concept of accounting indicates that: