Wgu c201 chapter 15 - Study guides, Class notes & Summaries

WGU C201 Business Acumen Chapter 15 & 16: Accounting and Financial Statements – Ratios. Exam Review, Rated A+ Current assets / current liabilities - -Current Ratio Current assets - minus inventory / current liabilities - -Acid Test (Quick) Ratio Current assets $250 Inventory $20 Current Liabilities $100 250-20=230 230/100=2.2 $2.20 assets for every $1 in liabilities Acid Test (Quick) Ratio and Current Ratio - -Liquidity Ratios Inventory Turnover, Receivables Turnover, and Tota...

Financial Statements - ANSWER Transactions are accumulated and categorized Different kinds of financial statements - ANSWER Balance sheet, Income statement, statement of owners equity and statement fs of cash flows Income Statement - ANSWER Used by the manager to understand the revenue or sales. The expenses and profits of the organization for a period of time. Expenses - ANSWER What you have spent on non product related things Cost of Sales - ANSWER What you spend directly on your p...

Balance Sheet - -Snapshot - permanent statement, amounts are carried over from year to year, shows the firm's financial position on a particular date. Close out at end of year. Income Statement - -Video - indicates the flow of resources that reveals performance over a specific period. Also called a profit and loss statement. Statement of Owners Equity - -Shows changes in equity from the year end of one year to the next. Begins with the amount of owner's equity shown on last statement of...

Balance Sheet - Snapshot - permanent statement, amounts are carried over from year to year, shows the firm's financial position on a particular date. Close out at end of year. Income Statement - Video - indicates the flow of resources that reveals performance over a specific period. Also called a profit and loss statement. Statement of Owners Equity - Shows changes in equity from the year end of one year to the next. Begins with the amount of owner's equity shown on last statement of ow...

Financial Statements - ANSWER Transactions are accumulated and categorized Different kinds of financial statements - ANSWER Balance sheet, Income statement, statement of owners equity and statement fs of cash flows Income Statement - ANSWER Used by the manager to understand the revenue or sales. The expenses and profits of the organization for a period of time. Expenses - ANSWER What you have spent on non product related things Cost of Sales - ANSWER What you spend directly on your p...

WGU C201 Chapter 10 Vocab Questions and Answers 2024 computer-aided design (CAD) Designers can use computers to create and modify a part or product before producing an actual prototype using __________. mass production The industrial development of the United States involved the manufacture of large quantities of standardized goods using specialized labor and mechanization in an approach known as _____________. Brainpower Read More Previous Play Next Rewind 10 seconds Mo...

WGU C201 Chapter 12 Questions and Answers Graded A Product A bundle of physical, service, and symbolic characteristics designed to satisfy consumer wants. Product strategy The part of marketing that deals with product/service development. It also manages package design, trademarks and other product identification, warranties, product life cycle, and new-product development Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:11 / ...

WGU C201 Chapter 12 Questions with correct Answers 2024 Product A bundle of physical, service, and symbolic characteristics designed to satisfy consumer wants. Product strategy The part of marketing that deals with product/service development. It also manages package design, trademarks and other product identification, warranties, product life cycle, and new-product development Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:0...

Financial Statements - ANSWER Transactions are accumulated and categorized Different kinds of financial statements - ANSWER Balance sheet, Income statement, statement of owners equity and statement fs of cash flows Income Statement - ANSWER Used by the manager to understand the revenue or sales. The expenses and profits of the organization for a period of time. Expenses - ANSWER What you have spent on non product related things Cost of Sales - ANSWER What you spend directly on your p...

Current assets / current liabilities - -Current Ratio Current assets - minus inventory / current liabilities - -Acid Test (Quick) Ratio Current assets $250 Inventory $20 Current Liabilities $100 250-20=230 230/100=2.2 $2.20 assets for every $1 in liabilities Acid Test (Quick) Ratio and Current Ratio - -Liquidity Ratios Inventory Turnover, Receivables Turnover, and Total Asset Turnover - -Activity Ratios Cost of goods sold / average inventory - -Inventory Turnover. Equals the number of...