1. What does CFO stand for and what is there job?

2. What is the role of the finance department?

3. What does G-A-A-P stand for and what is its use?

4. What is a general ledger?

5. Based on the book - Describe the lifecycle of a company?

6. A financial report must have qualities like A-R-T to be a good report, what do those letter stand for?

7. In the Chart of account - what is Account Number 1000?

8. What is a balance sheet?

9. Define current assets and what are the made of?

10. Define current liabilites and what are the made of?

11. What are accounts receivable?

12. What is inventory and 3-major categories of inventory?

13. In the income statement - define SALES?

14. In the income statement - define cost of sales and give an example.

15. In the income statement - define Operating expenses and give an example.

16. My bakery just sold an extra parking lot we do not use next to our facility. Is the revenue from that part of SALES or OTHER INCOME? Explain your answer?