Exam 15: Financing and Tracking Business Operations

Current assets at New Fashion Stores,Inc.are $20 million,and current liabilities are $10 million.The company's current ratio is ________.

You are a financial manager.Your assistant tells you that there will be a cash flow gap next month,meaning that cash outflows are expected to be ________ cash inflows.

Current Assets - Current Liabilities = ________ Capital.

An airline's long-term leases of its jets are examples of current liabilities.

A university would consider its students' tuition payments to be revenue.

CFO Danny al Baydah believes that the best indicator of his company's financial strength is how quickly its assets can be turned into cash,or the company's ________.

Funds that a manager can access at any time up to an amount agreed upon between the bank and the company are called a line of ________.

The strategic planning and budgeting of short- and long-term funds for current and future needs is called ________ management.

The amounts that New Fashion Stores,Inc.owes to clothing manufacturers are an example of ________.

In her work as an accountant,Sandra Garcia recognizes that for every transaction that affects an asset,an equal transaction must also affect either a liability or owners' equity.Sandra is using ________ bookkeeping.

A financial manager is sometimes referred to as a ________.

You work at a fast food restaurant.Your wages are an example of operating expenses.

Why is the statement of cash flows important?

When New Fashion Stores,Inc.built 100 new stores,it recorded to outflowing cash in the ________ activities section of its statement of cash flows.

Joseph Coulter needs long-term financing for his company.He contacts Funders Group,which is willing to provide funding in exchange for an ownership stake,an active role in management of Joseph's company,and an opportunity for a large return on its investment.Funders Group is offering ________ capital.

Accounting involves a great deal of precision and some degrees of interpretation; therefore,accounting is ________.

What would be a project to be worked on in a managerial accounting department?

The two divisions that make up MOST finance departments are ________.

Laureen Cooley is preparing a spreadsheet that shows inventory,sales,purchases,manufacturing,and marketing costs for her organization.This document is called a(n)________ budget.

Susan Capelongo manages a department that prepares financial statements to be sent to current and potential stockholders.Susan works in ________.