Fin 320f - Study guides, Class notes & Summaries

UNIT 1️️ Incentives️️Something that motivates a person to take or avoid taking an action. Resources️️Physical or intangible assets that can be used to accomplish a goal. Confirmation Bias️️The tendency to process information by looking for, or interpreting information that is consistent with one's existing beliefs. Encyclopaedia Brittanica Economic activity️️The production, distribution and consumption of economic assets. Economic assets️️Assets functioning as stor...

Test Bank for FIN 320F Unit 4 Working Words Latest Update 100% Pass Games and activities Generally Accepted Accounting Principles (GAAP) - Answers A common set of rules and a standard format for public companies to use when they prepare their financial reports. Accrual Method/Matching Principle Realization Principle Cost Principle The Accrual Method/Matching Principle - Answers Revenues should be matched with the expenses used to produce them. The Realization Principle - Answers The acc...

Opportunity Cost️️The best alternative which is not selected because another course of action is pursued First Principle of Finance/Time Value of Money️️A dollar received today is worth more than a dollar received in the future Cash Flow️️The flow of purchasing power that can be used to value and facilitate the transfer of economic assets Risk️️The uncertain nature of future cash flows and rates of return Present Value️️The value of a future cash flow stated as of toda...