Question 1

In the case of intangible assets, ___________ means the value of intangible assets minus amortization.

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Question 2

Proactive managers plan ahead for the problems the business is likely to encounter and the opportunities that may arise by preparing ___________ financials.

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Question 3

__________________ examines the relationship between specific figures on the financial statements and helps explain their significance.

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Question 4

_____________ expenses are those expenses that do not vary with the level of sales, thus, you will have to cover these expenses even if the sales are less than the expenses.

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Question 5

The sales or ______________ portion of the income statement is where the retail price of the product is expressed in terms of dollars times the number of units sold.

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Question 6

The _______________ statement is the detail of cash received and cash expended for each month of the year.

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Question 7

What is owner's equity?

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Question 8

The _____________ portion of the income/P&L statement tells the difference between what you sold the product or service for and what the product or service cost you.

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Question 9

The _______________ section of the P&L statement is a measurement of all the operating expenses.

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Question 10

________________ may be bank notes or loans made to purchase the business's fixed asset structure.

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Question 11

_____________ expenses are those expenses that vary with the level of sales.

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Question 12

________________ are formal investigations to ensure that financial management practices follow generally accepted procedures, policies, laws, and ethical guidelines.

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Question 13

What is the advantage of breaking out sales and cost of good sold/sales into separate categories over combining all sales and costs into one category?

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Question 14

______________ refers to a simple listing of all planned expenses and revenues.

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Question 15

Those assets that are cash or can be readily converted to cash in the short term are called ______________.

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Question 16

The _______________ is a snapshot of the business's financial position at a certain point in time.

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Question 17

Those assets that are not easily converted to cash in the short term are referred to as ________________.

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Question 18

The balance sheet, the P&L statement and the cash flow statement are collectively referred to as "the ______________. "

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Question 19

What are operating expenses?

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Question 20

Describe what is typically included in an overall budget.

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Quiz 14: Competing Effectively Through Global Marketing, Distribution, and Supply-Chain Management