What is another term for “current assets” ?

A. Fixed assets
B. Non-liquid assets
C. Liquid assets
D. Ccash

What is an accounting term that represents an inventory account adjustment ?

A. Cost of goods sold
B. Cost accounting
C. Standard cost
D. Overhead cost

What is the change in cost per unit variable change called ?

A. Variable cost
B. Incremental cost
C. Fixed cost
D. Supplemental cost

What is used to record historical financial transactions ?

A. Bookkeeping system
B. Ledger system
C. Balance check
D. General journal system

What refers to the residual value of a company’s assets after all outside liabilities (shareholders excluded) have been allowed for ?

A. Dividend
B. Equity
C. Return
D. Par value

What refers to the claim of anyone to ownership ?

A. Proprietorship
B. Assets
C. Equity
D. Liability

Cash money and credit necessary to establish and operate an enterprise are generally called _____________________?

A. Capital
B. Funds
C. Assets
D. Liabilities

What represents the share of participation in business organizations?

A. Franchise
B. Partnership
C. Stock
D. Corporation

The profit derived from a project or business enterprise without consideration of obligations to financial contributors and claims of others based on profit is known as _____________________?

A. Yield
B. Economic return
C. Earning value
D. Gain

__________________ is the element of value which a business has earned through the favorable consideration and patronage of its costumers arising from its well known and well conducted policies and operations?

A. Status company
B. Big income
C. Known owners
D. Goodwill