CHAPTER 17 REVIEW QUESTIONS

A business with sales of less than $200,000 is classified as a business ___.

The Uniform Commercial Code essentially covers the sale of ___ ___.

___ ___ liabilities mature in more than one year.

The basic accounting formula states that assets minus liabilities equals ___ ___.

___ assets are those that have no physical existence.

When the rate of return on borrowed funds exceeds the rate of return on the investment, the investor is experiencing ___ leverage.

The transfer of ownership to personal property is generally accomplished using a ___ ___ ___.

An instrument similar to a mortgage that is used to secure payment due on the sale of personal property is called a ___ ___.

Liquidation value may be used to establish the minimum value of a business taht is ___.

The ability that a business broker must possess that distinguishes them from most other real estate brokers is knowledge of ___ and ___ ___.

A business broker must be able to read and understand ___ ___ and ___ ___.

Dividing the operating expenses by the effective gross income results in the calculation of the ___ ___ ratio.

The risk associated with losses from storms, fire, theft, and so on is called ___risk.

The money made in an investment is referred to as a ___.