MRTS 1342 Exam Questions with Answers All Correct
Earnings valuation approach - Answer-a business valuation approach which centers on estimating the projected future income of the business typically over a 5-10 year period.
Earnings before interest, taxation, depreciation, and amortization (EBI...
MRTS 1342 Exam Questions with
Answers All Correct
Earnings valuation approach - Answer-a business valuation approach which centers on
estimating the projected future income of the business typically over a 5-10 year period.
Earnings before interest, taxation, depreciation, and amortization (EBITDA) - Answer-a
firm's profits after subtracting cost of goods sold and cash operating expenses, but
before subtracting interest expense, taxes, depreciation, and amortization.
Economic base - Answer-the wealth produced in or near a community that provides
employment and income to the local population.
Economic order quantity (EOQ) - Answer-the quantity to be purchased which minimizes
total costs.
Employee - Answer-one who is under the control and direction of an employer with
regard to the performance of employment.
Advertising - Answer-the art of making the public aware of the services or commodities
that the business has for sale.
Age of accounts receivable - Answer-measures the average time required to collect
receivables.
Age Discrimination in Employment Act - Answer-federal legislation that requires
employer to treat applicants and employees equally regardless of age.
Age of inventory - Answer-measures the average time required to sell inventory.
Amortization - Answer-the paying off of a debt in regular installments over a period of
time
Americans with Disabilities Act (ADA) - Answer-legislation that guarantees disabled
people equal access to employment, as well as access to public places.
Angel investors - Answer-private investors who are willing to supply financing for new
and/or risky small venture start-ups.
Employment application - Answer-a record of statements made at the time the applicant
first seeks employment.
, Entrepreneur - Answer-one who organizes, manages, and assumes the risk of a
business firm or venture.
Environmental Protection Agency (EPA) - Answer-a governmental agency with
environment protection regulatory and enforcement authority.
Equal Employment Opportunity Act - Answer-federal legislation designed to eliminate
employment discrimination based on race, color, religion, sex, or national origin.
Equal Pay Act - Answer-federal legislation which outlaws discrimination in pay against
those who are over forty years old.
Expenses - Answer-A decrease in assets, other than withdrawals by the owner, which
result from efforts to produce revenues.
Accounting - Answer-A language of business employed to communicate financial
information based upon analyzing recording, classification, summarization, reporting,
and interpretation of financial data.
Accounting equation - Answer-Assets equal Liabilities plus Owner's Equity
Accounts Payable - Answer-an unwritten promise to pay creditors for property, such as
merchandise,
10 supplies, or equipment, purchased on credit, or for services received on credit. -
Answer-
Accounts receivable - Answer-an unwritten promise by a customer to pay, at a later
date, for goods sold or services rendered.
Accrual accounting - Answer-recording in each fiscal period applicable expenses,
whether paid or not, and income earned, whether collected or not.
Accrued expense - Answer-an expense incurred in operating a business during an
accounting period, but not yet paid.
Accured income - Answer-income actually earned during an accounting period but
which will not be received until a future period.
Acquisition - Answer-a company that is inherited or bought.
Assets - Answer-property of monetary value owned by a business.
Bad debts - Answer-accounts receivable that are uncollectable.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Scholarsstudyguide. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.59. You're not tied to anything after your purchase.
