tacn 1

Question 1

Depreciation

Answer 1

Is the process by which assets lose value over time

Question 2

Dramatically

Answer 2

To do something in an intense or extreme way

Question 3

Decline

Answer 3

Is to decrease

Question 4

Return on sales

Answer 4

Is a comparison of net income to sales revenue

Question 5

Property tax

Answer 5

Is a fee that local governments charge for owning real estate

Question 6

Sales tax

Answer 6

Is a fee that the government charges for selling a product

Question 7

Specialize

Answer 7

Is to acquire a high level of knowledge and experience

Question 8

Straight line depreciation

Answer 8

Is a depreciation schedule in which an asset’s value is deducted at a steady rate

Question 9

Payroll

Answer 9

Is a list of employees and their salaries or wages

Question 10

Inventory

Answer 10

Is the value of products that a company has bought and intends to sell for profit

Question 11

Liability

Answer 11

Is any amount of money that a company owes

Question 12

Fixed asset

Answer 12

Is any piece of property that is not easily converted to cash

Question 13

Client

Answer 13

Is the process of money moving into and out of a company

Question 14

Cash flow

Answer 14

Is a customer or person for whom services are provided

Question 15

Disclosure

Answer 15

Is a release of information

Question 16

Transfer

Answer 16

Is the act of moving money from one account to another

Question 17

Withdrawal

Answer 17

Is the act of removing money from an account

Question 18

Value added tax

Answer 18

Consists of fees that are charged every time materials are transferred from one company to another during the manufacturing process

Question 19

Wear and tear

Answer 19

Is damage that occurs to an item while it is being used.

Question 20

Uncollectible

Answer 20

Something cannot be found, received or taken.