Across
- 2. Type of insurance where the insurer and insured share the risks
- 7. A test of financial strength of a business. Calculated as:(current assets-inventory-prepaid expenses)/current liabilities
- 8. Periodic payments that an insured makes on their insurance policy
- 11. Total of all inventory divided by the number of inventory taken
- 14. A periodic inventory method "Last in, First out" meaning that the newest items get sold first
- 15. A periodic inventory method "First in, First out" meaning the oldest items get sold first
- 17. What an asset is worth. Calculated as: Asset Cost - Accumulated Depreciation
- 18. Ratio showing how quickly a company sells out of its inventory
Down
- 1. a way to calculate the cost of equipment over its life, and track its decline each year
- 3. What a company paid for the purchases of an asset
- 4. The person designed to receive the face value of a life insurance policy if the insured dies
- 5. The number of years an asset will be in use
- 6. the amount of insurance stated on the policy. Usually also the maximum amount the insurance company will pay
- 9. The easiest way to Depreciate an asset. Divide depreciation equally over usable life of the asset
- 10. The amount the insured person pays out of pocket before the insurance company pays
- 12. Amount owed by costumer to a business for purchases made
- 13. Operating expenses not associated with a specific department or product. Often Fixed expenses (rather than variable)
- 16. Amount owed by a business to creditors for services or items purchased