Business math exam – Flashcards
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Assessed value
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A percentage of the market value of real estate
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Assets
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Money or property that has worth to a business
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Break even point
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The point of no profit, no loss- sales equals the cost
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Canceled check
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Check cashed by the bank
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Capital
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Amount of money invested minus the business liabilities
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Credit
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Dollar amount that is recorded in the right column of a T account or a general journal
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Current ratio
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Current assets / current liabilities
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Debit
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Dollar amount that is record in the left column of a T account or a general journal
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Invoice
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Itemized shipping bill listings goods,prices, shipping charges,and any other charges that apply
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Quick ratio
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Cash + receivables / current liabilities
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Stockbroker
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One who buys and sells stock
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Prospectus
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Pamphlet about a mutual fund
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1040 EZ
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Form used by taxpayers who claim no dependents
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W-4
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Employees withholding allowance certificate
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1040 A
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Form used by taxpayers with dependents and who do not want to itemize deductions
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1040
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Form used by taxpayers who want to itemize deductions or who do not qualify to use forms of 1040EZ or A
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W-2
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Wage and tax statement
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Inflation
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Increase in the money supply Which results in higher consumer prices & higher taxes
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Outstanding checks
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Checks not cashed by the bank
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Transit #
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The number on a check that identified the check
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Premium
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Bond sold for more than face value
