Develop You in Watch the terms listed mating ent other t year, atory -ntory te te arance ction lop Your Business Language listed with the definitions. Some terms will not be used. Wages or salary along with other financial benefits paid to employees a. account receivable Conditions under which credit is b. accounts payable extended by a lender to a borrower c. aging of accounts Products that have completed the man- receivable ufacturing process and are ready to sell d. breakeven point 4 Amounts owed that need to be paid e capacity within the next year f. cash budget 5 Number calculated by dividing current 8. compensation assets by current liabilities h. credit policy 6. Loans that have no specific collateral i. credit terms 7. Business expenses that do not change j. current assets k. current liabilities as the level of production changes I current ratio & Money owed for the purchases cus- m. direct deposit tomers buy on credit n. direct materials 9. The difference between current assets 0. finished goods and current liabilities p. fixed costs 10. Unfinished goods used by a manufac q. inventory turer to create a finished product I. inventory turnover 11. Manufactured items in various stages 3. payroll record of completion 1. salary 12. Amounts owed for items bought on u. unsecured loan credit V. variable costs w, wages Review Concepts X work in process 13. In a cash budget a shortage would y working capital occur when cash receipts exceed cash payments b. working capital is declining C. Current assets are less than current liabilities d. cash payments exceed cash receipts 4. An example of a current asset is C. inventory d. land a breakeven analysis. ? would be considered a variable cost. c. rent d. utilities ension eme as for ment bility set wer ayer or # a building b. equipment 15. In a breakeven of due a. a manager's salary b. insurance Indirect compensation includes & Commission b. employer din c. overtime pay d. wages and salary