All income that a business receives over a period of time is called profit.

Networth for a business is equal to

Revenue - Expenses =

______________________is the financial record of employee compensation, deductions, and net pay.

______________________deposit, an employer transfers net pay electronically into an employee’s bank account.

Sole Proprietors must pay ____________________________ taxes, which are contributions to their Medicare and Social Security.

A company reports its assets, liabilities, and owner’s equity on the __________________ statement

_________________ records identify the type and number of products on hand for sale.

__________records are financial records that name the buildings and equipment owned by the business, their original and current value, and the amount owned if money was borrowed to purchase them.

Records of Accounts ...

The Break Even point  is equal to 

One of the most common reasons why busineess fail is 

Which type of financial records identify the amount assets have decreased in value due to their age and use?

An operating budget is usually planned for

A W4, I9, and Direct deposit forms are required to process payroll for employees

The   types of pay are Hourly, Salary and

For businesses that have operated for several years, the main source of budget information is

Overtime is a law and . . .

Which of the following generally is NOT a goal of a business budget?

Balance Statements show you how much is the company's 

The statement that shows profit and loss is called the 

To keep your business files organized, you will need  financial software like Excel or Google Spreadsheets

An operating budget will determine if a business has adequate financial resources on hand to pay bills as they become due or if it will need to borrow money.

To prepare a budget, a business must be able to identify and predict the amount of each source of income and each type of expense.

An accounts receivable record identifies the companies from which credit purchases were made and the status of each account.