Final Test Flashcards

Terms Definitions
Consulting revenue
the act of losing
contribution margin ratio
cont margin/sales
accounting(reporting) periods
Quarterly, monthly, semiannually, Annually
Financial Accounting Choices
Liberal/Aggressive or Conservative
an amount owed by a business
records transactions before cash is exchanged.
anything of value that is owned
Goods that a merchandising business purchases to sell
Managerial Accounting
The process of identifying, measureing, analyzing, and communicating financial information needed by management to plan, contro, and evaluate a company's operations.
maintaining the same layout and style throughout the publication; i.e. fonts, colors, spacing, graphic elements, etc.
Financial Statements
Financial reports that summarize the financial condition and operations of a business
Insurance Premium
The amount paid for insurance protection
Plant Assets
Tangible long-lived assets used to produce or sell products and services; also called property, plant and equipment (PP&E) or fixed assets.
Contribution Margin
The amount remaining from sales revenues after all variable expenses have been deducted.
A business activity that changes the asset, liabilities, or owner's equities.
Generally Accepted Accounting Principles
Accounting principles were historically developed through common usage. A principle was deemed acceptable if permitted by most professionals. Eventually the following groups of professionals were given authority to rule on and develop standards:
Assets and liabilities can never be ____ and can only ____ as much as it ______.
Cash Discounts
Discournts offered by a seller to encourage early payment by a buyer. To the seller, cash discounts are sales discounts; to the buyer, cash discounts are purchases discounts.
T account
An accounting device used to analyze transactions
Predatory pricing
practice of setting price below cost with the intent to drive competitors out of business
Accumulated Depreciation
account shows the sum of all depreciation expense from using the asset.
Payroll Taxes
Taxes based on payroll of a business
debit memorandum
form prepared by the customer showing the price deduction taken by the customer for returns and allowances
Working Capital
The excess of current assets over current liabilities.
internal revenue service
Trying to determine whether the company complied with tax laws.
Total overhead variance
The difference between actual overhead costs and overhead costs applied to work done, based on standard hours allowed.
increase ine xpected return
will decrease the pension expense
purchase invoice
An invoice used as a source document for recording a purchase on account transaction.
purchase order
a written order by a buyer for merchandise or other property specified in the purchase requisition
A/P subsidiary ledger
Ledger that contains accounts for all creditors and the amount owed to each
Net Pay
The total earning paid to an employee after payroll taxes and other deductions
Cost of Merchandise Sold
Cost recorded as expense after merchandise is sold
Purchases - merchandise inventory
vulnerability scans
a type of security testing which uses automated tools designed to identify whether a system contains any well known vulnerabilities
The Balance Sheet
This reports assets and claims to assets at a specific point in time. These are then subdivided into two categories: claims of creditors and claims of owners.
Book Value of an asset
Historical Cost – Accumulated Depreciation
Realization of Revenue
revenue is recorded at the time goods or services are sold
Accounting Period
is a period of time covered by an accounting report
opening an account
writing an account title and number on the heading of an account
Statement of members' Equity
Reports changes in equity for members of a LLC over a period of time
Enron Accounting Warning Signs
Large number of VIEs dependent on investment grade rating for Enron.

Mark-to-Market contracts set by Enron.

Limited partnership deals where executive was an Enron executive.
sale on account
A sale for which cash will be received at a later date
digital signature
a hash at the end of a message that has been encrypted with the sender's private key
Inventory and Sale cardinality
(Inventory 0, N; Sale 1, N)

each inventory item relates to a minimum of zero sales and a maximum of many sales, and each sale involves a minimum of one inventory item and a maximum of many items.

Inventory can be sold many times, we mean that type of inventory can be sold many times.

Each sale is associated with 1 inventory item and a max of many items. Each sale is for at least 1. you cant have a min of zero inventory because without inventory you cant sell. The maximum is many because each sale can contain more than 1 inventory item.
Explain the relationship between the sales mix and the overall CM ratio:
As sales mix shifts toward less profitable products, overall CM ratio falls, and vice versa.
during preparation of a bank reconciliation, outstanding checks should be
deducted from the balance per the bank statement
income Statement credit and Balance Sheet debit columns
A net loss is entered in the work sheet's _______________.
revoke; annul
Athenian statesman.
Roman Public Square
Holiest Book of Islam
The German Air Force
Circus Maximus
Roman chariot racing stadium
bombindings and associations by political groups
Constantinople was named after __________________.
Overthrew the Chinese Dynasty
Nationlist Movement
prior restraint
government censorship of information before it is published
East African nickname for rich people
Homestead Strike
violent strike against andrew carnegies steel mills
T/F: In bingo Long Traveling All-stars, W.E.B. Dubois is referenced by catcher Leon Carter.
What Chinese dynastly succeeded the Mongol Yuan dynasty in China?
What is NGO?
A non-governmental organization created by natural or legal person w/ no participation or representation of any government.
legal document giving certain rights to a person or company
west africans first empire, controlled gold ttrade, empire collapsed because of weather , new gold routes , and war with the north muslims
means to write something malicious and false about another person
Richard Allen
organized the Mother Bethel African Methodist Episcopal (AME) church after they were told they could not sit with white members in another church
Native Americans
At first, the Jamestown colony depended on the ______ _________ for food and water
Nation of Islam
Black Muslims; black nationalist religious group founded by Wallace D. Fard in 1930.
MLK Assassination
Took place in Memphis, Tennessee outside of a hotel in 1964.
Queen Victoria
Symbolic English queen who the Victorian age is named after. Values of the time were thrift, honesty, hard work, and respectability.
The Morrill Act
decentralized and unregulated markets allowed for the creation of land-grant colleges, initially for agriculture and used science as an aid to agriculture. Became a turning point for science in the government and allowed for the establishment of the University of California
Alexander Hamilton
believed in a strong central governmentby a aprasierious educated elite of upper class cictizens.
when jesus visited here crowds greeted him as messiah.
Battle of Yorktown
Ended revolution as cornwallis surrenders
much higher, high walls and flying butressess, pointy
the state or condition of being insurgent.
The Great Migration
movement of Southern blacks to northern cities; an effect of WWI; sought to escape discrimination; floods & droughts in cotton fields
A religious turn to God, thought by Calvinists to involve an intense, identifiable personal experience of grace
the chief temple of the greek goddess athena on the acropolis in athens
Free Soilers
Emigrant Aid Societies sent some 1,200 New Englanders to Kansas in 1854-1855 to fight against slavery, worked tp end slavery in the territories, proslavery settlers sent socities to oppose the free soilers, 1856 tensions escalated to open violence, May 21, 1856 group of Southerners looted and raided Lawrence
Rural Electrification Administration
this brought electricity to isolated agricultural areas
national bank
A bank created for for depositing government funds and for printing bank notes that would become the basis for U.S. Currency
Platt Amendment
Gave Cuba independence, but Cuba must stay independent, have to large debt to another country, and U.S. got guantanamo bay
When a country cuts off all foreign trade both into and out of the country
Nueces River
What did Mexico believe the Texas border to be?
to try to sway the American public into making a certain decisions
Who is Sappho?
~poet~was a widow from an aristocratic family, invited young women to her home for instruction in music and leterature.--Critics charged her with homosexual activity, and her surviving verse speaks of her strong physical attraction to young women.
sir issac newton
scientific meathod and laws of motion
of or pertaining to the religion, law, or civilization of Islam.
Fannie Lou Hamer
(1917-1977) bacame a SNCC field worker in 1963; helped found the MFDP; left SNCC in 1966 when the organization embraced Black Power but remained active in the civil right movement in 1971; helped found the National Women's Political Caucus
second continental congress
met in april 1775/ created a continental army headed by george washington/ created the olive branch petition and the declaration of indpendence
Mutual Assured Destruction
idea that both sides would face certain destruction in a nuclear war
paris bastille
a prisonin france that is stormed by mostly sans-coulotes and they form the paris commune and they r radical
War Reparations
*Germany forced to pay $33 billion. *Unfair punishment of the losers. *Destroy civilian economy and impossible to repay. *Daws Plan reduced Germany's debt, stretched out the repayment period, and arranged for American bankers to lend funds to Germany. *Allowed Germany pay Allies and the Allies to repay the US.
"implied powers" of the constitution, "necessary and proper" clause; court gives Federal government power over states with economy and interstate relations
McCulloch vs. Maryland 1819
Aryan race
Ancestors of the Anglo - Saxon, the ________, perspective created by Houston S. Chamberlain
Charles Evans Hughes
appointed Secretary of State - later became Chief Justice of the Supreme Court
who were the candidates for the election of 1836?
democrats-martin van buren
whigs-william henry harrison, Hugh L. White, daniel webster, w.p. magnum
The Dyer Bill
A bill attempting to reduce or end completely lynchings
Gunpowder, Compass, Printing
Three items that were created and used during the Tang/Song dynasties.
how did clientele change
stores grew, with items for everything and extensive inventories. they had sales and advertising campaigns that maintained customers interests
Battle of New Orleans
(1815) the greatest U.S. victory in the War of 1812; actually took place two weeks after a peace treaty had been signed ending the war
The Moses of the Slaves and founder of the Underground Railroad
Harriet Tubman
voting rights act of 1965
made the 15th amendment a truly effective part of the constitution outlawed discriminatory voting practices
The Chinese Question of 1867
what do we do about Chinese immigrants? Election for governor in Cali is based on Chinese Question. Republican- nothing we can do about it but we have to stop them from coming. Democrat- oh hey let's deport them (people weren't behind that b/c it was mean and undemocratic)
3 Options for Nuclear Weapons
-Show the bombs power to japan-Warn the Japanese about the bombs-Just do it
Which of the following was intended to spark a general slave uprising?
The raid on Harpers Ferry
the federal slave code for the territories
meant that people could take slaves into the territories
2 What was a major economic result of the Reconquest?
Supremacy of sheep raising over agriculture in Castile
Netherlandish Proverbs
The City (1919)
Life of Caravaggio
Ecstasy of Saint Teresa
Burial at Ornans
Gustave Courbet 1850
Schroder House
Gerrit Rietvald, 1925, Utrecht
to cut into a surface
Waiting room typically found in temples
Forever Free
Edmonia Lewis, 1847, Ideal Art
Foreshortening refers to the visual effect or optical illusion that an object or distance appears shorter than it actually is because it is angled toward the viewer.
An architectural element that projects from a wall to support a horizontal part of a building, such as beams or the eaves of a roof.
officials in the executive branch of government, started by washington, adams, and about a dozen clerks
Octavian- Augustus
after Caesar's death defeats marc antonty from rule of rome runs with 3 soul goals. (rivere gods, patron of the arts, adultry is crime)
art consisting of a painting or carving (especially an altarpiece) on three panels (usually hinged together)
a railing held up by small posts
Hagia Sophia
Anthemius of Tralles, Isodorus of Miletus, 537 ce
a Greek sculptor and architect that worked on the Masusolos of Halikarnassos (along with other sculptors), especially the reliefs.
Alexander the Great
Unified city states, took over Egypt
Saint Chapelle
- Paris, France - 1241-1248 AD
- starry ceiling & stained glass walls
A plant native to Egypt and adjacent lands used to make paper like writing material.
Art World
A network of mueseums, galleries art critics, etc
Three Angels
Andrei Rubylev, 1410 ce, tempera on wood
the central building block at the top of an arch or vault
St. Teresa of Avila in Ecstasy
Gianlorenzo Bernini, 1642-52, Baroque
Post and Lintle
Two upright stones (posts) support a horizontal beam (lintle).
open form
a mass (3D area_ penetrated or treated in such a way that space acts as its environment rather than its limit
Arch of Constantine
built in 315 CE outside of the Colosseum to honor Constantine's ten year anniversary/conversion of Rome to Christianity..."In this sign you will conquer"
Cornelia Pointing to her Children as Treasures
Angelica Kauffman, c. 1785, Neoclassicism
3-22 Temple of Ramses II, Abu Simbel
Abu Simbel, Egypt, 19th dynasty, ca. 1290-1224 bce. Sandstone
Ancient Egyptian Art
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