1.

(of a government or organization) to demand an amount of money, such as a

tax, from a person or organization. LEVY
2. A measurement of financial performance calculated by dividing net income
by shareholder’s equity RETURN ON EQUITY
3. A company’s ASSETS can consist of cash, investments, specialist
knowledge, orr copyright material.
4. A company's capability of generating profits from its
operations PROFITABILLILTY
5. A concept that requires a business to record an accounting
transactiOn only if it can be expressed in terms of money
MONEY MEASUREMENT CONCEPT
6. A contract outlining the terms under which one party agrees to rent property
owned by another party LEASE CONTRACT
7. A cost that has already been incurred, but which has not yet been consumed
DEFERRED EXPENSE
8. A costing method that assigns overhead and indirect costs to
the related products and services ACTIVITY- BASED COSTING
9. A deposit made to a seller that represents a buyer's good
faith to buy a home EARNEST MONEY
10.A document that specifies the regulations for a company's
operations and defines the company's purpose ARTICLES OF
ASSOCCIATION
11.A failure to include something in an agreement or law, which
allows someone to do something illegal or to avoid doing
something LOOPHOLLE
12.A fee paid to the government for the privilege of being
licensed to do something (e.g., selling liquor or practicing
medicine) LICENSE TAX
13.A financial security with a value that is reliant upon or derived from , an
underlying asset or group assets DERIVATIVE SECURITY
14.A firm's expenses directly related to the materials and labor
used in production PRIME COSTS
15.A large amount that is paid in one single payment instead of broken up into
installments LUMP SUM
16.A legal document prepared in the formation and registration process of a
limited liability company to define its relationship with shareholders
MEMORANDUM OF ASSOCIATION
17.A legislated tax on specific goods or services at purchase fuell , tobacco, and
alcohol EXCISE TAX
18.A letter prepared by the auditor which discusses findings and
recommendations for improve in internal control MANAGEMENT
LETTER
19.A libility that may occur depending on the outcome of an uncertain futurrerr
event CONTINGENT LIABILITY
20.A lot of smaller companies use BOOKEEPERS for their daily accounting
needs and only use an accountants for the yearly financial statements
21.A MANAGING DIRECTOR is someone who is responsible for the daily
operations of a company, organization or corporate division.
22.A measure of a variable's sensitivity to a change in another
variable, most commonly this sensitivity is the change in
price relative to changes in other factors ELASTICITY
23.A member of a company's board of directors who does not
engage in the day-to-day management of the organization
NON-EXECCUTIVE DIRECTOR
24.A method of depreciation that allows greater depreciation expenses in the
early years of the life of an asset ACCERLERATED DEPRECIATION.
25.A method of determining the value of an asset based on the
selling price of similar assets MARKET APPROACH
26.A method of illegally getting money from a person or an organization
FRAUD
27.A method of pricing involving setting a high initial price to
attract buyers with a strong desire for the product and the
resources to buy it MARKET SKIMMING
28.A payment that has not been made by its cutoff time at the
end of its due date PAST DUE
29.A predetermined point at which an investor will exit a trade
in a profitable position PROFIT TARGET
30.A pricing strategy where firms examine the prices of their
competitors and then set their own prices broadly in line
with these GOING-RATE PRICING
31.A product given back to the seller for a refund, usually due
to a defect or malfunction SALES RETURN
32.A professional responsible for overseeing the work performed by individuals
in departments such as accounting, information or human resources: BACK
OFFICEC MANAGERS
33.A public statement made by someone saying that they approve or support
someone or something : ENDORESEMENT.
34.A range of incomes subject to a certain income tax rate : TAX BRACKET
35.A recognized reduction in the carrying amount of an asset that is triggered
by a decline in its fair value IMPAIRMENT LOSS
36.A reduction in , or an exemption of, the level of taxation faced by an
individual or company TAX ABATEMENT
37.A reduction in the rate of tax charged by a government, which immediately
leads to a decrease in the real income of the government and an increase in
that of tax payers : TAX CUT.
38.A reduction of the invoice amount for early payment of the invoice value
DISCOUNT ALLOWED
39.A REGISTERED OFFICE is the official address of an
incorporated company, association or any other
40. A secondary product derived from a production process, manufacturing
process, or chemical reaction. BY-PRODUCT.
41.A section of a company's board of directors that is in charge
of monitoring financial reporting and disclosure AUDIT
COMMITTEE
42.A standard convention used in accounting, under which all transactions must
be consistently recorded using the same currency : UNIT OF MEASURE
ASSUMPTION
43.A statement in which the auditor concludes that most
matters have been dealt with adequately, except for a few
issues QUALIFIED REPORT
44.A statement made by an auditor that no opinion is being
given regarding the financial statements of a client
DISCLAIMER REPORT
45.A strategy where a product is sold at a price below its
market cost to stimulate other sales of more profitable goods
or services LOSS LEADER PRICING
46.A system of keeping financial records where every entry to an account
requires a corresponding and opposite entry to a different account :
DOUBLEL-ENTRY BOOKKEEPING
47.A tax on any profit above a certain amount EXCESS PROFIT TAX
48.A tax or any profit above a certain amount EXCESS PROFIT TAX
49.A tax that a person or organization pays directly to the entity that imposed it
DIRECT TAX.
50.A tax that is levied upon goods and services before they reach the customer
who ultimately pays it as a part of market price INDIRECT TAX
51.A tax(UK) paid on any property, and other assets that are given to someone
CAPITAL TRANSFER TAX.
52.A total amount of assets or income that can be taxed by a taxing authority
TAX BASE
53.A TRADEMARK is a type of intellectual property consisting of a
recognizable sign, design or expression which identifies products or
services.
54.A type of inventory valuation whereby a business uses
electronic tracking systems to continually record inventory
PERPETUAL STOCK MANAGEMENT
55.A type of payment made ahead of its normal schedule such as paying for a
good or service before you actually receive it ADVANCED PAYMENT.
56.A(n) PREPAID EXPENSE is a type of asset that results from a business
making advanced payments for goods or services to be received in the
future.
57.According to an independent AUDIT REPORT , their accounting system is
deeply flawed
58.According to the ACCOUTING EQUATION, assets equal liabilities plus
equity.
59.Accounting RECORDS are all off the documents involved in preparing
financial statements for a company
60.Accounts receivable are often classify(debt) to the value of its ordinary
shares(equity) GEARING
61.Advanced payments a company receives for products or services that are to
be delivered or performed in the future DEFERRED REVENUE
62.After three years of heavy losses, the company went into LIQUIDATION
with debts totaling 100 millions
63.Always get a(n) RECEIPT when you withdraw cash from a machine
64.Amount of a company's equity that cannot legally be allowed
to leave the business; it cannot be distributed through a
dividend or any EGAL CAPITAL
65.An accounting principle that requires publicy traded companies release and
provide for the free exchange of all material facts that are relevant to their
ongoing business operations: FULL-DISCLOSURE PRINCIPLE
66.An AUDIT COMMITTEE would strengthen the independence of the audit
function, and not merely the external audit function but the internal one as
well
67.An account which is not held in the name of person : IMPERSONAL
ACCOUNT
68.An accounting concept requiring any transaction that can significantly
impact the financial statements should not be ignored. MATERIALITY
69.An accounting concept which requires that assets, liabilities, income and
expenses must neither be overstated and understated : PRUDENCE
70. An accounting method in which revenue or expenses are recorded when a
transaction occurs rather than when payment is received or made:
ACCURAL BASIS.
71.An accounting method that includes as part of depreciation the difference
between the original purchase price of an asset and the current replacement
cost REPLACEMENT COST ACCOUNTING
72.An accounting mistake in which an entry violated a fundamental principle of
accounting ERROR OF PRINCIPLE
73.An accounting principle that outlines the specific conditions under which
revenue is recognized REVENUE RECOGNITION
74.An accounting principle that requires a company to use the same accounting
policies and methods for reporting its financial statements CONSISTENCY
PRINCIPLE
75.An accounting principle that requires accounting information and financial
reporting to be independent and supported with unbiased evidence
OBJECTIVE PRIRNCIPLE
76.An accounting principle that requires company accounts to be prepared with
caution and high degrees of verification: CONSERVATISM PRINCIPLE
77.An accounting principle that requires the financial records of
any business to be kept separate from those of its owners or
any other business ACCOUNTING ENTITY PRINCCIPLE
78.An accounting principle which states that all assets must be recorded at cash
value on the date they were acquired : HISTORICAL COST PRINCIPLE
79. An accounting principle which states that a business should report their
financial statements appropriate to specific time period :” TIME PERIOD
ASSUMPTION
80.An accounting process that compares two sets of records to
check that figures are correct and in agreement
RECONCILIATION
81.An accounting term that means all transactions, regardless of their nature,
must be recorded when they occour INCCURRED
82.An accounting term used to describe expenses that are
infrequent, unusual and significant in size EXTRAORDINARY
EXPENSE
83.An accounting term which refers to cocmpany’s net profits after paying
dividends to the stockholders RETAINED EARNINGS
84.An amount of money a business must currently spend to replacec an
essential asset with one of the same or higher value : CURRENT
REPLACEMENT COST
85.An approach to pricing in which a manufacturer sets a
relatively low price for a product in the introductory stage of
its life cycle with the intention of building market share
MARKET PENETRATION PRICING
86.An arrangement for making payments, usually to an
organization, in which your bank moves money from your
account into the organization's account at regular times
DIRECT DEBIT
87.An audit report which indicates that the auditors are satisfied
with the company’s financial reporting UNQUALIFIED REPORT
88.An auditor examines financial statements to determine whether
theyCONFORM to generally accepted accounting principles.
89.An error that occurs when a bookkeeper or an accountant records a debit or
credit to correct acccocunt but to the wrong subsidiary account or ledger
COMMISSION ERROR.
90.An expense that can be subtracted from a taxpayer's gross
income in order to reduce the amount of income that is
subject to taxation REVENUE DEDUCTTION
91.An illegal activity in which a person or entity deliberately avoids paying a
true tax liability. TAX EVASION
92.An indicator of how profitable a company is relative to its total assets
RETURN ON ASSETS
93.An individual, group, or company that controls all of the
market for a particular good or service MONOPOLIST
94.An obligation to pay that arises out of conduct and intent rather than a
contract . CONSTRUCTIVE OBLIGATION
95.An occation on which the goods and materials owned by a
company or available for sale in a store at a particular time
STOCKTAKE
96.Analysts say the company's INVENTORY of unsold cars could
last two to three months.
97.Any company or organization that has legal rights and responsibilities
LEGAL ENTITY
98.Any government program or policy initiative that is deisgned to reduce the
amount of taxes paid by individuals or businesses TAX RELIEF
99.Apparently, he was sacked after he was caught stealing company
PROPERTIES.
100. As a director and principle shareholder, he receives a substantial
annual DIVIDEND from the company.
101. As it was a LIMITED LIABILITY company, the creditors
couldn't get at John's private assets when the company went
bankrupt.
102. As John’s TAXABLE INCOME for the year were under the lower-
level bracket, he didn’t need to pay any tax.
103. Assets or libilities that do not appear on a company’s balance sheet,
but are still assets and liabilities of the company OFF-BALANCE-SHEET-
ITEMS
104. Assets that can be traded, or they can also be seen as
packages of capital that may be traded FINANCIAL
INSTRUMENTS
105. At an ANNUAL GENERAL MEETING , the directors of the
company present an annual report containing information for shareholders
about the company’s performance and strategy.
106. At the end of the ACCOUNTING PERIOD, the revenue accounts
are totaled and the balance positive or negative, is transferred to the profit
and loss account.
107. At the time, the company was sold at a _MARKET
VALUE_ of around €300 million
108. AUDITING is crucial to ensure that companies represent their
financial positioning fairy and accurately and in accordance with accounting
standards
109. Be sure to make a full SETTLEMENT by the repayment
deadline
110. Because TREASURY STOCKS represent the number of shares
repurchased from the open market, it reduces shareholder’s equity by the
amount paid for the stock
111. Before we can pay the invoice, we need to record it as a DEBIT in
the accounting system
112. Being well known by their ongoing charitable activities are important
to the company in terms of GOODWILL
113. By studying the previous year's accounts and
considering any changes in the market, you can INTERVENE
the financial state of the company 12 months in advance
114. Cash flow from OPERATING ACTIVITIES indicates the amount
of money a company brings in from its ongoing , regular business activities
115. Cash is considered to have the most_LIQUIDITYbecause
it can most quickly and easily be converted into other assets.
116. CHARTERED ACCOUNTANTS may oversee all of a company’s
accounting needs or they may work as freelance to handle accounting
matters for multiple clients
117. Closing the account before MANURITY will result in 90 day’s loss of
interest
118. Companies need large amounts of WORKING CAPITAL
in order to operate and grow
119. Convicted of tax FRAUD, the accountant was sentenced to two years
in prison
120. COST ACCOUNTING can be most beneficial as a tool for
management in budgeting and in setting up cost control
programs
121. Cost advantages reaped by companies when production
becomes efficient ECONOMIES OF SCALES
122. COSTS OF GOODS SOLD include direct materials and direct labor
expenses that go into the production of each goods or service that is sold
123. Costs that are incurred across the course of time,
regardless of the output that the company is operating
INDIRECT COSTS
124. Depicting your total assets, liabilities and net worth , a(n) BALANCE
SHEET offers a quick look into you financial health and inform lenders,
inventors or key stakeholders about your business .
125. Don’t sign into any CONTRACT before examining its conditions
carefully
126. Entries in the journal are transferred to the LEDGER for final
recording.
127. Expense directly attributed to the disposal of an asset, contract, or
cash- generating entity : COST OF DISPOSAL
128. Expenses which arer recorded in the books of accounts irrespective of
payments being made ACCURED EXPENSES
129. Expenses which incur in the day to day operations of a business and
may not be directly tied to a specific function or department within the
company GENERAL AND ADMINISTRATIVE EXPENSES
130. Financial reports produced for the business owners and
managers, generally monthly or quarterly, normally a Profit
& Loss report and a Balance Sheet MANAGEMENT ACCOUNTS
131. Financial statements of an entity with multiple divisions or
subsidiaries CONSOLIDATED FINANCIAL STATEMENTS
132. Fortunately, the company’s bank account is currently in SURPLUS
133. Fujitsu says it expects to break even in the fiscal year 1993-1994 with
zero NET PROFIT.
134. Funds forwarded to an employee by an employer, with the expectation
that the funds will be repaid: REFUNDABLE PAYMENTS
135. Generally, all capital gains are taxable unless you are exempt from
TAXATION.
136. Government use revenues from PAYROLL TAXES paid by
employers to fund specific programs including social security , health care,
and worker’s compensation
137. He claimed that the restaurant bill was a legitimate business
CHARGE.
138. He employs an ACCOUNTANT to deal with his income tax.
139. He managed to pay off his DEBTS in two years
140. He managed to pay off his DEBTS in two years
141. Holders of a(n) OPTIONS CONTRACT have the right to
buy or sell a security at a chosen price.
142. Holders of ORDINARY SHARES have the right to vote in
the company's meeting and also get an income in the form
of dividends from the corporation's profits.
143. I arranged for some money to be sent from London to L.A by banker’s
draft
144. I have a successfully consultancy business but am a SOLE TRADER
145. I have no CASH IN HAND. Can I pay by credit card?
146. I propose that we wait until the BUDGET has been announced before
committing ourselves to any expenditure.
147. If a company sold 100 strips of medicine per month during the entire
year, then the SALES VOLUME is 1200 for that given year.
148. If sales don’t improve, we’ll have to declare BANKRUPTCY within
a year
149. If the business does badly and cannot pay its debts, any
CREDITORS can have it declared bankruptcy
150. If you don’t PATENT your invention, other people may make all the
profit out of it
151. Immigrants sent $45 billion in REMITTANCES to Latin America last
year.
152. In the cash flow statement, BUSINESS ACTIVITIES refer to the
flow of cash between a business and its owners and creditors
153. In their ANNUAL REPORT , the directors stated that uncertainly in
the financial services marketplace had adversely affected trading
154. Income taxes, sales tax, and capital gains tax are all forms of TAX
LIABILITIES
155. Information added to a company's accounts that
explains the assumptions used to prepare the numbers in
them NOTE
156. Instead of waiting until after all figures had been entered into the
ledgers, a bookkeeper could keep trach of the balance after each ACCOUNT
157. INVESTING ACTIVITIES refer to purchase and sale of long-term
assets and securities within a specific reporting period .
158. INVESTMENT SECURITIES are purchased by the
investors, with or without any middlemen or agent, only for
investment and to hold it for the long term.
159. It is defined by the formula (Interest Expense -
Accounts Payable)/Liabilities AVERGAE INTEREST RATE
160. Larger corporations often have a dedicated TAX ADVISOR to help
them minimize the amount of tax that they need to pay.
161. Late in paying money owed : DELINQUENT
162. Lenders make CREDIT GRANTING decisions based on
both ability to repay a debt and willingness as indicated by a
history of regular, unmissed payments.
163. Liscenced accounting professionals CERTIFIED PUBLIC
ACCOUNTANT
164. LONG TERM BORROWINGS also decrease the risk of
refinancing due to the fixed interest rate policy
165. Make sure the figures are accurate before submitting the TAX
RETURN
166. Market segmentation is a good place to start in setting effective
SALES TARGETS
167. Multinational corporations need to be aware of the local accounting
STANDARDS of each county they operate in.
168. Often a(n) PROPETY TAX is levied on real estate, which may be
imposed annually or at the time of a real estate transaction
169. Once a year the sharholders review the annual FINANCIAL
STATEMENTS to see if the company has made a profit or loss.
170. Ownership or interest of less than 50% of an enterprise
MINORITY INTEREST
1. payable, the current portion of long-term debt, accrued
liabilities, and unearned revenue
2. payable, the current portion of long-term debt, accrued
liabilities, and unearned revenue
3. payable, the current portion of long-term debt, accrued
liabilities, and unearned revenue
171. Pepsi Company is the most important competitor
because of its largest MARKET SHARE_ in beverage industry.
172. Portions of a business’s profits which have been set aside to
strengthen the business’s financial position RESERVES
173. PRIVATE COMPANIES may issue stock and have shareholders, but
their shares do not trade on public exchanges and are not issued through an
IPO
174. Profits for the current FISCAL YEAR are expected to rise more than
20%
175. Rules or laws relating to a particular activity that are
made by a government LEGILATION
176. SALES TAXES are a form of consumption tax levied on retail sales
of goods and services.
177. Share prices were up $3.125 at $26 on the New York
_STOCK EXCHANGE_ in early afternoon trading.
178. Shareholders approved an increase of 32.5% in the AUTHORIZED
CAPITAL
179. She is living as a TAX EXILE in Monaco
180. She was one of the few women to be appointed the CHAIRMAN of
an FTSE 100 company
181. She worked her way up through the corporate
_HIERACHY to become the president
182. Since there are millions of investors trading on the stock market, a(n)
PRIVATE COMPANY can find investors who are willing to purchase new
offerings and fund expansions
183. Some accountants often use CREATIVE ACCOUNTING to try and
cheat the tax authority out of money due.
184. Statement of Earnings for the years ended December 31 shows that
PROFITABILITY and financial charged decreased by 2%
185. Stocks are regarded as good long-term INVESTMENTS
186. Tablet computers are aimed at the home user MARKET
SEGMENT_.
187. TAX ACCOUNTANTS works with clients to produce tax return
documents that follow tax law and regulations
188. Tax refunds are a form of REIMBURSEMENT from the government
to taxpayers
189. The accounting principle that requires the record and recognition of
expenses and revenue in the financial statements MATCHING
PRINCIPLE
190. The __MANAGEMENT ACCOUNTING team finished their
analysis of production costs and presented their findings to
the Board of managers.
191. The accountants suggested not signing the final contract until all DUE
DILIGENCE was done to check that the company would be profitable
192. The ACCOUNTING POLICIES include methods, measurement
systems, and procedures for presenting information in financial statements
193. The accounting process of linking all production costs to
the cost unit to calculate a full cost per unit of inventories
ABSORPTION COSTING
194. The accounts will need to be independently VERIFIED by external
auditors
195. The act of setting aside a portion of retained earnings for a particular
purpose APPROPRIATION OF FUND
196. The actual value of an asset that is agreed upon by
both the seller and the buyer FAIR VALUE
197. The AMORTIZATION of goodwill totaled 384 million
euros, up from 213 million in the first half of the fiscal year
2013-2014.
198. The amount of money a company has received from shareholders in
exchange for shares of stock PAID-UP CAPITAL
199. The amount that something is worth after it has been
used for a particular period and how much it could be sold
for RESIDUAL VALUE
200. The assumption that entity will remain in business for the foreseeable
future: GOING CONCERN ASSUMPTION
201. The audit quality guides that apply to all audits AUDITING
STANDARDS
202. The auditors checked through the list of FIXED ASSETS and made
sure that all the machinery, vehicles, and property listed really existed
203. The auditors found a hole in the accounts and forced
the company to REVALUE its assets.
204. The benefits, other than pension distributions, that
employees may begin to receive from their employer once
they retire POST EMPLOYMENT BENEFITS
205. The business has an annual TURNOVER__ of £50,000.
206. The CASH FLOW STATEMENT shows how much cash is
generated and spent during a given time period.
207. The Chief Executive has called a(n) EXTRAORDINNARY
GENERAL MEETING_ to sack directors and stop plans to
invest
208. The CHIEF FINANCIAL OFFICER of a company is the top level
financial controller, handing everything relating to cash flow and financial
planning.
209. The committee will appoint an independent AUDITOR to
examine the annual accounts.
210. The company DEDUCTS 31.39 each week from my salary for health
insurance
211. The company estimated the net _CUMMULATIVE loss
would be $26 million
212. The company had RETAINED EARNINGS of 302 million that can
be used to make debt payments or be reinvested in the company .
213. The company has decided not to go through with the
_TAKEOVER_ of its smaller rival
214. The company has formed a(n) PARTNERSHIP with a US maketing
firm to try to break into that market.
215. The company has worldwide DISTRIBUTION channels
216. The company shut down when the accounts showed that the
LIABILITIES were larger than the income and assets
217. The company was fined when the TAX AUTHORITY realized that
their return had been prepared ina back door way
218. The company will also have to show that it has a DIVIDEND of 600
4. The convertible preferred stock must be converted to COMMON STOCK
between April 15 2006 and April 15, 2009.
219. The costs a business pays for holding inventory in stock CARRYING
COST.
220. The country pledges not to spend more than it has in its TREASURY
221. The Cyprus stock market trades in 98 securities of 46
LISTED COOMPANIES
222. The DEFICIT has been rising in rrrecent years because of a drop in
earningns from oil , the country’s main report.
223. The estimated amount that a business or individual taxpayer expects
to pay in income taxes for the current year : PROVISION FOR INCOME
TAX
224. The estimated amount that a seller receives for selling an asset after
deducting the costs associated with the sale or disposal of the product NET
REALIZABLE VALUE.
225. The estimated book value of an asset after depreciation
is complete SALVAGE VALUE
226. The expense that can be directly tied to the production
of specific goods or services DIRECT COST
227. The fact of being able to be proved to be true or correct
VERIFIABILITY.
228. The fact of private information being kept secret
CONFIDNETIALITY
229. The government has imposed a sharp CREDIT squeeze in an attempt
to hod down inflation
230. The government is offering TAX INCENTIVES to lure companies to
the official exchange.
231. The government is talking about increasing the VALUE ADDED
TAX rate next year, which means the cost of consumer goods will increase
232. The government is to ENACT a law aimed at improving safety on
construction sites
233. The government needs to restructure the tax system to collect more
REVENUE.
234. The holding company owning minority interest( lless than 50%), but
the accountants are nevertheless consolidated CONSOLIDATED
AFFILLIATE
235. The income or profit remaining after the production costs have been
subtracted from revenue: GROSS PROFIT
236. The independent role of a(n) INTERNAL AUDITOR is important for
reinforcing the credibility of a company’s financial statements and
compliance with regulations
237. The information used by auditors in arriving at the
conclusion on which the audit opinion is based AUDIT
EVIDENCE
238. The insurance company made PROVISION against claims over
alleged pension fraud.
239. The main job of a(n) INTERNAL AUDITOR is to identify problems
and correct them before they are discovered during an external audit by an
outside firm
240. The measurement of INTANGIBLE ASSETS, such as knowledge
and learning , accounts for a large of a company’s value
241. The MERGER of these two companies would create the world’s
biggest accounting firm
242. The method that divides the cost of the asset into equal parts over the
useful life : STRAIGHT LINE METHOD.
5. The most common examples of current liabilities are
______________ , short-term notes
6. The most common examples of current liabilities are
______________ , short-term notes
7. The most common examples of current liabilities are
______________ , short-term notes
243. The most common examples of current liabilities are ACCOUNTS
RECEIVABLE , short-term notes payable , the current portion of long term
debt, accured liabilities and unearned revenue
244. The most well-known types of _INTELLECTUAL
PROPERRTY are copyrights, patents, trademarks, and trade
secrets.
245. The number of stock units (shares) that a company can
issue as stated in its memorandum of association or its
articles of incorporation AUTHORISED SHARE CAPITAL
246. The overall gap continues to reflect a deficit in the trade of goods and
a SURPLUS in services.
247. The part of a company accounts shows money it owes for goods and
services that it has bought in a particular period BOUGHT LEDGER
248. The pension fund invests the savings of its members in TANGIBLE
ASSETS such as land and buildings
249. The percentage at which an individual or corporation is taxed TAX
RATE.
250. The poorest families to pay no grocery tax because their food stamp
purchases are TAX EXTEMPT.
251. The practice of adjusting financial statements according to price
indexes. INFLATION ACCOUNTING
252. The probability that information circulated by a company will be false
or misleading CONTROL RISK
253. The procedure that figures out the point in which total
cost and total revenue are equal BRERRAKEVEN ANALYSIS
254. The process used by companies to reduce their costs
and increase their profits COST REDUCTION
255. The process used in accounting and financial analysis to make
comparisons between different companies and industry norms
BENCHMARK
256. The production level at which total revenues for a
product equal total expenses BREAK-EVEN POINT
257. The purpose of COMPREHENSIVE INCOME is to include a total of
all operating and financial events that affect non-owners’ interests in a
business
258. The purpose of the INCOME STATEMENT is to show managers
and investors whether the company made a profit or loss during the period
being reported.
259. The purpose of the PROFIT AND LOSS STATEMENT is to show
the revenues and expenditures of the company over a specified period of
time, usually one fiscal year.
260. The real value of a company, asset, etc., which may not
be the price it could be sold for now INTRISIC VALUE
261. The record shows that the credit-card holders made seven
TRANSACTION on average during the last month
262. The report by auditors who aren’t at all satisfied with
the financial statements because they do not present fairly
in accordance with GAAP (or other basis of accounting)
ADVERSE AUDIT REPORT
263. The right to buy a company’s shares at a particular price by a
particular date WARRANT
264. The right, but not the obligation, to buy or sell a stock
at an agreed upon price and date SHARE OPTION
265. The state of having enough money to pay everything
that is owed to others SOLVENCY
266. The sum of all outstanding amounts owed to vendors is shown as the
ACCOUNTS PAYABLE on the company’s balance sheet
267. The sum of depreciation expenses over the years ACCUMULATED
DEPRECIATION
268. The SURPLUS has been rising in recent years because of a drop in
earnings from oil, the country’s main export.
269. The system of rules, practices, and processes by which
a firm is directed and controlled CORPORATE GOVERNANCE
270. The TARGET CUSTOMERS of this product are 30 year old males
271. The term recording the cost construction work, which is not yet
completed. CONSTRUCTION IN PROGRESS
272. The term used in a company’s accounts by its auditors to say that the
accounts are accurate and complete: TRUE AND FAIR VIEW.
273. The terms of the contract were AMENDED in later years
274. The timely release of all information about a company
that may influence an investor's decision DISCLOSURE
275. The total expenditure incurred by a company to
produce, store, and sell one unit of a particular product or
service UNIT COST
276. The total follar market value of a company’s outstanding shares of
stock MARKET CAPITALIZATION
277. The TOTAL INVOICE, also known as the book of first entry,
records transactions in chronological order.
278. The Treasury suggested a greater role for independent
auditors to increase TRANSPARENCY and accountability.
279. The TRIAL BALANCE will fail to balance if both aspects of a
transaction are not recorded
280. the US has imposed new TARIFFS_ on chocolate from
Brazil
281. The use of capital to conduct construction activities to create a fixed
assets and put into operation CAPITALIZED CONSTRUCTION
282. The use of legal methods to minimize the amount of income tax owed
by an individual or a business TAX AVOIDANCE
283. The variant of preference shares for which the issuing companies are
not obligated to pay the stockholders any unpaid or omitted dividends NON-
CUMLATIVE PREFERENCE SHARES
284. This concept tells investors how much of a firm’s net income was
allotted to each share of common stock. BASIC EARNINGS PER
SHARE.
285. To act according to an order, set of rules, or request
COMPLLY WITH
286. To judge the quality, importance, amount, or value of
someone or something EVALUATE
287. We cannot afford to expand into both markets, so please find out the
OPPORTUNITY COST of expanding into Iran instead of Iraq
288. We have 5 long-term DEBTORS who owe us a total of 175
289. We have 5 long-term DEBTORS who owe us total of 175.00
290. We need more specialists in corporate finance, taxation and
FORENSIC ACCOUNTING
291. We used to CROSS CHECK the information in the
reports and never relied on a single source\
292. We were forced to cut EXPENDITURE on R&D.
293. When the Board reviewed the previous year’s accounts, they were
pleased to see that the NET EARNINGS has increased.
294. When total costs are higher than revenues, companies can save money
by trying to cut VARIABLE COSTS, such as advertising, travel and training
budgets.
295. When you take 2000 people out of your business, you will inevitably
have FIXED COST reductions
296. With so much CASH IN TRANSIT, some bankers fear it might
easily lead to a big robbery.
297. You can receive a home loan of up to 95 percent of the official
VALUATION of the property
298. Your account will be DEDUCTED as soon as your order has been
shipped.