UNIT 4 Study Guide - investing activities or financing...

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UNIT 4 1. Correctly define the four terms: assets, liabilities, revenue, and expenses, -- and give examples of each. - Assets- something that you own ex: home, car, bank accounts - expenses- something that is used up and gone by using it ex: electric bill pay employees, uses of cash - revenue- get cash into your business by the sale of goods and services ex: selling computers, books, technology - liabilities- ex: home mortgage, car loan, student loan 2. Correctly identify personal cash flows as being examples of operating activities,
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Unformatted text preview: investing activities, or financing activities.- Operating activities : those activities involved in daily operations- revenue , expenses, short- term assets, short-term borrowing- Investing activities : those activities involving the purchase and sale of tangible goods which are intended to last more than a year- long term assets-Financing Activites: activities involving liabilities (loans) intended to be paid back at least more than a full year in the future...
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