Adventis UPDATED Actual Exam Questions and CORRECT Answers
3 views 0 purchase
Course
Adventis
Institution
Adventis
Adventis UPDATED Actual Exam
Questions and CORRECT Answers
Financial Statements - CORRECT ANSWER- income statement + balance sheet + cash
flow statement.
communicate the financial condition.
Income Statement - CORRECT ANSWER- presents the results of operations over a
period of time.
shows...
Adventis UPDATED Actual Exam
Questions and CORRECT Answers
Financial Statements - CORRECT ANSWER✔✔- income statement + balance sheet + cash
flow statement.
communicate the financial condition.
Income Statement - CORRECT ANSWER✔✔- presents the results of operations over a
period of time.
shows stakeholders whether the compay made or lost money.
Revenue/Sales - CORRECT ANSWER✔✔- in income statement.
number charged for the delivery of goods or services.
Cost of Sales/Cost of Goods Sold - CORRECT ANSWER✔✔- in income statement.
direct cost of producing revenue.
Gross Profit - CORRECT ANSWER✔✔- in income statement.
revenue - cost of sales.
indicates how efficiently labor + supplies are used in the production process.
Operating Expenses - CORRECT ANSWER✔✔- in income statement.
all other expenses required to run the business.
Operating Income/EBIT - CORRECT ANSWER✔✔- in income statement.
revenue - (cost of sales + operating expenses).
indicates a company's earning power from ongoing operations.
Non-Operating Expenses - CORRECT ANSWER✔✔- in income statement.
expenses or income not related to the regular business of the company.
, Corporate Taxes - CORRECT ANSWER✔✔- in income statement.
local + federal taxes the company incurs.
Net Income/Net Earnings - CORRECT ANSWER✔✔- in income statement.
revenue - all expenses.
indicates the increase in shareholders' value resulting from operations.
Balance Sheet - CORRECT ANSWER✔✔- shows an organization's financial position at a
particular point in time.
discloses the resources an organization controls + the claims on those resources.
Cash - CORRECT ANSWER✔✔- in balance sheet.
current assets comprising currency or currency equivalents that can be accessed immediately.
Accounts Receivable - CORRECT ANSWER✔✔- in balance sheet.
the amount owed to an organization from the sale of its products or services.
Fixed Assets - CORRECT ANSWER✔✔- in balance sheet.
the value of assets + property that cannot easily be converted to cash + has a useful life of
greater than 1 year.
Accounts Payable - CORRECT ANSWER✔✔- in balance sheet.
the amount owed to an organization's vendors.
Debt - CORRECT ANSWER✔✔- in balance sheet.
the amount of obligations owed to creditors.
less expensive form of capital, because less risky.
debt owners typically have priority claim on a company's assets if the company goes
bankrupt.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller MGRADES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.99. You're not tied to anything after your purchase.
