BUS 362 Week 4 Quiz 1. � Question : � The _______________ shows what assets the business owns and what claims creditors and owners have against those assets, and is built on the basic accounting equation: 2. � Question : � When estimating the firm’s end-of-month cash balance, the owner should first: 3. � Question : � A high debt ratio: 4. � Question : � On March 10th, a business owner receives an invoice from a supplier for $416.27 with “net 30″� credit terms marked on it. On April 7th, the owner writes the supplier a check for $416.27 and mails it. When would this cash disbursement show up on the company’s cash budget? 5. � Question : � Which of the following is not likely to be a use of working capital? 6. � Question : � Which of the following is true about inventory management for the small business owner? 7. � Question : � The __________ represents a “snapshot”� of a business, showing an estimate of its value on a given date, while the ________ is a “moving picture”� of the firm’s profitability over time. 8. � Question : � To encourage credit customers to pay invoices promptly, a business owner should: 9. � Question : � Which of the following associations is correct? 10. � Question : � Which of the following measures a company’s liquidity and its ability to pay its bills and other financial obligations on time?
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