TExES Business and Finance (276) Prep
Manual & Extras Latest 2023 Already
Passed
Income Statement ✔✔Produced once a month to ensure expense review and control
Income Statement' ✔✔Allows a company to determine how much money is coming in and how
it's being spent
Promissory Note ✔✔Indicates a loan and debt financing to raise capital
Convertible Securities ✔✔Used to raise capital by way of equity financing
Convertible Securities' ✔✔Stock or bond, that can be converted to another type of security
Convertible' Securities ✔✔Another type of bond or stock
Direct Stock Offerings ✔✔Used to raise capital by equity financing
,Initial Public Offering (IPO) ✔✔Raises capital through equity financing
Withdrawal of money from account via ATM ✔✔Amt is deducted from the customer's account
balance
Customer's access privilege ✔✔Occurs after the server connection has been established and the
verification that the customer holds an account has occurred
Establishing the server connection ✔✔First step that must occur for a process to begin
Verification that a customer holds an account ✔✔This must occur before a withdrawal can occur
Creditworthiness ✔✔The key determinant of how likely it is that the loan will be repaid
Lending company examines ✔✔Current cash flow, not past liabilities
Expenses associated with employee risk management ✔✔Unrelated to any of the characteristics
that a lending company will be reviewing
,Entrance of a competitor to the market ✔✔Unrelated to the characteristics that a lending
company will be reviewing
Doctrine of Insurable Interest ✔✔A person will suffer financial or other kinds of loss when they
lose or damage a particular property
Doctrine of Contribution ✔✔A defendant who has paid more than his/her share of the award has
a claim against other jointly liable parties for the excess payment
Doctrine of Subrogation ✔✔The ability of one person to take the place of another in regard to a
lawful claim/ demand or right against a third party
Doctrine of Indemnification ✔✔The ability to financially restore a property as it was prior to the
incident
Perpetual Inventory System ✔✔Records actual costs affiliated with inventory using a physical
count
, Periodic Inventory System ✔✔Inventory does not become part of the count of goods to be sold
Temporary Inventory System ✔✔Does not account for inventory errors
Just-in-time Inventory System ✔✔Inventory goods are not on hand until needed
Prepaid Insurance' ✔✔Paid in advance and hold value
Prepaid' Insurance ✔✔A refund could be requested for the unused portion
'Prepaid Insurance ✔✔Is expensed only as it is used
Liability ✔✔An obligation that is due and is unrelated to the sale of a product or service
Equity ✔✔Ownership in stock or other securities
Salvage Value ✔✔Used as a component of the depreciation calculation
Manual & Extras Latest 2023 Already
Passed
Income Statement ✔✔Produced once a month to ensure expense review and control
Income Statement' ✔✔Allows a company to determine how much money is coming in and how
it's being spent
Promissory Note ✔✔Indicates a loan and debt financing to raise capital
Convertible Securities ✔✔Used to raise capital by way of equity financing
Convertible Securities' ✔✔Stock or bond, that can be converted to another type of security
Convertible' Securities ✔✔Another type of bond or stock
Direct Stock Offerings ✔✔Used to raise capital by equity financing
,Initial Public Offering (IPO) ✔✔Raises capital through equity financing
Withdrawal of money from account via ATM ✔✔Amt is deducted from the customer's account
balance
Customer's access privilege ✔✔Occurs after the server connection has been established and the
verification that the customer holds an account has occurred
Establishing the server connection ✔✔First step that must occur for a process to begin
Verification that a customer holds an account ✔✔This must occur before a withdrawal can occur
Creditworthiness ✔✔The key determinant of how likely it is that the loan will be repaid
Lending company examines ✔✔Current cash flow, not past liabilities
Expenses associated with employee risk management ✔✔Unrelated to any of the characteristics
that a lending company will be reviewing
,Entrance of a competitor to the market ✔✔Unrelated to the characteristics that a lending
company will be reviewing
Doctrine of Insurable Interest ✔✔A person will suffer financial or other kinds of loss when they
lose or damage a particular property
Doctrine of Contribution ✔✔A defendant who has paid more than his/her share of the award has
a claim against other jointly liable parties for the excess payment
Doctrine of Subrogation ✔✔The ability of one person to take the place of another in regard to a
lawful claim/ demand or right against a third party
Doctrine of Indemnification ✔✔The ability to financially restore a property as it was prior to the
incident
Perpetual Inventory System ✔✔Records actual costs affiliated with inventory using a physical
count
, Periodic Inventory System ✔✔Inventory does not become part of the count of goods to be sold
Temporary Inventory System ✔✔Does not account for inventory errors
Just-in-time Inventory System ✔✔Inventory goods are not on hand until needed
Prepaid Insurance' ✔✔Paid in advance and hold value
Prepaid' Insurance ✔✔A refund could be requested for the unused portion
'Prepaid Insurance ✔✔Is expensed only as it is used
Liability ✔✔An obligation that is due and is unrelated to the sale of a product or service
Equity ✔✔Ownership in stock or other securities
Salvage Value ✔✔Used as a component of the depreciation calculation
