Card Set Information
chap 12 vocab words
vocab words for chapter 12 for principals of business administration
all income a business received over a period of time
are the costs of operating a business.
provides detailed plans for the financial needs of individuals,families,and businesses.
plans income and expenses from the beginning of a new business or major business expansion until it becomes profitable.
describes the financial plan for ongoing operations of the business for a specific period.
is an estimate of the actual money received and paid out for a specific period
are used to record and analyze the financial performance of a business.
are what a company owns
are what a company owes
is the value of the owner's investment in the business.
The assets, liabilities, and owner's equity for a specific date are listed on this
to report the revenue,expenses,and net income or loss from operations for a specific period.
is the financial record of employee compensation,deductions,and net pay.
are the documentation used to process earnings payments and record each employee's pay history
the employer transfers net pay electronically into the employee's bank account
Financial performance ratios
are comparisons of a company's financial elements that indicate how well the business is performing.
are differences between actual and budgeted performance.