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Business Accounting and Bookkeeping

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Tiffany Schmitt

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Cards in this guide (20)
What are some problems caused by globalization

globalization is happening because of worldwide trade and exchange between countries.

What is the need for cash referred to as

liquidity needs

Which of these explains the financial position of a company at a specific point in time

balance sheet

What is the largest and best-known exchange

new york

Which of these does not describe a private corporation

shares or traded on exchange

What best describes market prices that change often and to a great degree with dramatic spikes and plunges

Volatile is the word that best describes market prices that change often and to a great degree with dramatic spikes and plunges.

Why will the baby-boomer generation be a potential problem for government spending

the ratio of workers to retirees will be low, which will lower the income tax base from which to fund Social Security

Which is not considered an entitlement payment

income tax refund

Which government programs help cover costs of retired Americans

social security & medicare. -- A+

Which term best describes the rate at which a country's currencies convert to other currencies

exchange rate

Which of these is not a responsibility of a corporation's board of directors

enforcing laws regarding stocks and bonds

Why do public corporations receive much more attention on average

because of their size and the importance they have on the economy

What occurs when expenses are greater than revenue

loss

Is a portrait of the corporation over a specific period of time which shows the corporation's earnings and expenses

profit and loss statement.

Which of these is not an advantage of the foreign production of goods

Tighter Regulations.

Most favored nation status tends to grant the recipient which of these

Most favored nation status tends to grant the recipient with the same trade concessions.

What is a trade surplus

country export more than they import

What type of information does a balance sheet provide

company assets and liabilities.

Which of these describes a creditor

the person or business doing the lending. -- A+

Which term describes the amount of money the nation owes

Debt

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