1. The three common forms of business organizations are 2. The difference between the increases(including the beginning balance) and decreas recorded in an account is called the account 3. Assets= Liabilities Owner's Equity\is called the equation or balance sheet equation 4 An economic event that changes the financial position of an organization, and that often

ECENOMIC S We Now Turn to Money: Its Demand and the Role of Banks in Its Supply

1. The ownership structure of a business includes the following forms: A. Individual, group, corporate. B. Sole proprietorship, partnership, or corporation D. Debtors, creditors, and ownesancia C. Service, manufacturing, and financial. 2. Which of the following is NOT true concerning a sole proprietorship? A. A sole proprietorship is a company

1. David Company has the following information at the year-end for the preparation of adjusting entries: a. Of the $10000 balance in unearned revenue, $7000 has been earned. b. The annual building depreciation is $20000 C. Services provided to customers at the last day of the year unbilled totally 35000. d. Rent of 3000 for the Dec. is unpaid and unrecorded

Innovations in Risk Management Futures contract a contract to buy or sell a stated commodity or financial claim at a specified price at some specified future time

To Describe Major Aspects of Financial Merchandise Planning and Management To Explain the cost and retail methods of Accounting To Examine alternative methods of Inventory Control To Integrate Dollar and Unit Merchandising Control Concepts

Where we've been. Basic Skills:(Time value of money, Financial Statements) Investments: (Stocks, Bonds, Risk and Return) Corporate Finance: (The Investment Decision- Capital Budgeting)

Income statement SALES EXPENSES PROFIT

Goal of the Firm 1) Profit Maximization? this goal ignores: a) TIMING of Returns (Time Value of Money Ch. 5) b) UNCERTAINTY of Returns (Risk- Ch. 6)

ECNOMICS Openness of Different Economies, 1997