Exam 15: Financing and Tracking Business Operations

Your boss asks you to e-mail a spreadsheet that shows the exchange of money between the company and everyone else it deals with over a period of time.When sending the e-mail,you MOST LIKELY will attach the file named ________.

Kay Alden manages a department that prepares annual reports.Kay works in ________.

Double entry bookkeeping recognizes that for every transaction that affects an asset,an equal transaction must also affect either a liability or owners' equity.

Leverage is the amount of debt used to finance a firm's assets.

Long-term financing generated by the owners of a company is called ________ financing.

Accounts receivable is an example of a fixed asset.

Financial statements serve as a basis for management to develop expectations of where the company will be in future periods.

Factoring is the process of selling accounts ________ for cash.

Short-term liabilities are also known as ________ liabilities.

Why do companies need long-term financing?

The Sarbanes-Oxley Act established the Public Company Accounting Oversight Board,which is responsible for overseeing financial audits of public companies.

Mark Lewis manages a corporate department that reviews and evaluates the accuracy of financial reports.Mark works in ________.

On an income statement:

Management should compare its budget to ________ performance every month in order to determine if the company is performing as expected.

Adam Zarand wants to help his company decide whether or not to shut down an unproductive plant.Which type of accounting will he MOST LIKELY use?

Short-term liabilities are obligations a company is responsible for paying ________.

Chief financial officer Randy Fujiwara decides not to use debt financing nor to issue new stock.What option is left for obtaining long-term financing to build a new factory?

The longest period covered in financial accounting reports is three months.

What is debt financing?

How are capital projects financed?