CHAPTER 17 REVIEW QUESTIONS

  1. A business with sales of less than $200,000 is classified as a business ___.
    opportunity
  2. The Uniform Commercial Code essentially covers the sale of ___ ___.
    personal property
  3. ___ ___ liabilities mature in more than one year.
    Long term
  4. The basic accounting formula states that assets minus liabilities equals ___ ___.
    owner equity
  5. ___ assets are those that have no physical existence.
    intangible
  6. When the rate of return on borrowed funds exceeds the rate of return on the investment, the investor is experiencing ___ leverage.
    negative
  7. The transfer of ownership to personal property is generally accomplished using a ___ ___ ___.
    bill of sale
  8. An instrument similar to a mortgage that is used to secure payment due on the sale of personal property is called a ___ ___.
    security agreeent
  9. Liquidation value may be used to establish the minimum value of a business taht is ___.
    unprofitable
  10. The ability that a business broker must possess that distinguishes them from most other real estate brokers is knowledge of ___ and ___ ___.
    accounting, corporate finance
  11. A business broker must be able to read and understand ___ ___ and ___ ___.
    operating statements, balance sheets
  12. Dividing the operating expenses by the effective gross income results in the calculation of the ___ ___ ratio.
    operating expense
  13. The risk associated with losses from storms, fire, theft, and so on is called ___risk.
    static
  14. The money made in an investment is referred to as a ___.
    return
Author
mccullochhelen
ID
331994
Card Set
CHAPTER 17 REVIEW QUESTIONS
Description
REVIEW QUESTIONS
Updated