Questions and Answers
Which one of the following is the correct definition of the accounting equation?
Assets plus Liabilities equals Owner's Equity
What does the term 'accounts payable' refer to?
An unwritten promise to pay creditors for property purchased on credit
What does the term 'amortization' mean?
The paying off of a debt in regular installments over a period of time
Which one of the following is a definition of 'break-even analysis' based on the text?
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Which one of the following is a definition of 'cash flow' based on the text?
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Which one of the following is a definition of 'corporation' based on the text?
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Which one of the following is a definition of 'current ratio' based on the text?
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Which federal legislation created the governmental agency responsible for regulating and enforcing safety and health matters for most United States employees?
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What is the term for a line of credit that may be used over and over again up to a certain borrowing limit?
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What are costs related to marketing and selling a firm’s product or service, general and administrative expenses, and depreciation called?
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What is the term for a comparison of profit and expense items in the income statement expressed as a percentage of sales income, which can be compared to industry standards to measure the possible growth of a business?
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Which one of these is the definition of job analysis?
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Which one of these is the definition of net income?
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Which one of these is the definition of liquidation value approach?
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Which one of these is the definition of independent contractor?
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Which of the following is the correct definition of depreciation?
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Which of the following is the correct definition of earnings before interest, taxation, depreciation, and amortization (EBITDA)?
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Which of the following is the correct definition of equal employment opportunity?
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Which of the following is the correct definition of fixed expenses?
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Which one of the following statements is true about variable expenses?
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Which one of the following definitions best describes the term 'useful life'?
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Which one of the following statements accurately describes the purpose of the W-2 form?
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