Comp mixed arts and law/acc

What is a temporary owner's equity account used to record revenue?

sales

posting

the process of ledger recording of information

What is another name for a profit/loss statement?

income and expense statement

How may the owner's equity or proprietorship of a business be decreased? How?

expenses

Recording a purchase of an article on credit is done with a

purchase journal. Debit to the asset account and a credit to the accounts payable/Purchase Journal.

The financial records of a business are first written in what book?

journal

Selling price of an item is determined by the cost of the item with an amount added to it, called

mark-up

What is the sole owner of a business called ?

proprietor

The time an owner allows for payment of a sale are referred to as the

payment terms

The total sales of funeral services would be shown on what financial statement?

income statement

True or False: After all the adjusting and clearing entries are posted, the accounting cycle is complete.

False? (Generating Financial Statements need to be done)

The total debits and credit differences in a T account is called the

account balance

When a business keeps merchandise for sale, it is referred to an

merchandise inventory

Expenses incurred but not yet paid are called ______________________expenses.

accrued expense

A liability is a payment a funeral director

owes

A mortgage payable for this month is called

PITI payment: Principle, Interest, Taxes, Insurance.

A person who owns corporate stock is referred to as a/an

Shareholder / Stockholder

An official form gives what is owed, what is owned, and what the owner is worth is the

balance sheet

Tangible asset

A physical asset with a real, measurable form that a company owns and uses in its operations, such as land, buildings, machinery, equipment, and inventory.

When a proprietorship (owners equity) is DR, this indicates that the account has been

decreased

The left side for all accounts is known as the:

Debit side. Also known as the DR side.

A business structure which combines special aspects of a partnership with the limited liability of a corporation is called a/an

Limited Liability Company (LLC)

The difference between merchandise cost and retail selling price = the

Mark up

A mark up is also known as

Margin or Gross Casket Margin

The difference between total revenue and total expenses when the total expenses are greater is called a

net loss

What is the legal doctrine that is the basis for case law?

Stare Decisis (Precedent)

The main source for Funeral Service Regulation is what branch of government?

State legislature

A man dies, leaving behind his ex-wife, an adult son from a previous marriage, a brother, and both parents. Under the General Rule of Priority, who has paramount right of disposition?

Adult son (p.24)

Quasi-property

The accepted theory of the legal status of a dead human body; rights associated with the body are as if it were property for the purpose of disposition only. (P.20)

A family arranges for the cremation of their mother. They choose a cloth-covered fiberboard receptacle to house the body. This receptacle would be considered a/an

Alternative container (? -cremation container?)

A family calls Adam's SCI Care Center facility to make transfer of remains to their home.

What type of contract are the family and the SCI CAre Center entering?

Implied contract (? p.28)

The most commonly used legal definition of death states that death occurs when this organ, the _______________________, ceases to function.

brain (p.20)

A family calls Michael's funeral home to remove the body of their mother from the hospital to the funeral home. Upon Michael's retrieval from the hospital, what kind of custody will the funeral home have?

Actual custody (19/27)

itemization

a method of pricing by which each unit of service and merchandise is priced separately

Two brothers are making arrangements for the disposition of their father. One brother wants to bury their dad, the other brother wants their father to be cremated. To which type of court would the brothers go to resolve their differences?

Court of Equity or Probate Court (This court handles matters related to wills, estates, and the administration of a deceased person's property.)

Power of attorney ends at the time of:

the principles death (or revocation or date specified)

The Supreme Law of the US?

The U.S. Constitution (1789)

Two sisters come into the funeral home to make arrangements for their mother. One sister wants cremation, although she has no means to pay for it. The other sister wishes to bury their mother, and she is willing to pay for the entire service. What do you think the FD should do?

Hold the body until the sisters come to an agreement. Worst case, they go to court.

Generally speaking, funeral contracts should be entered into with the person that is/has what duty?

Paramount Right of Disposition

The person signing the cremation authorization and/or embalming authorization, giving permission for either to take places is called the

Authorizing Agent

The process of administering the decedent's estate is known as

Probate

You bury the wrong body in a family grave. The family is understandably upset and threatens to sue the funeral home. Does the family have grounds for a lawsuit?

Yes, you committed the tort of loss of body

A women appointed by the will to represent and administer the estate is called a

Executrix

What is considered a protected class covered by TitleVII of the Civil Rights Act?

race, color, religion, sex (including pregnancy, sexual orientation, and transgender status), and national origin

An on-call intern is free to pursue personal activities while on call, as phones are forwarded to his cell phone.According to the Fair Labor Standard Act, is the funeral home required to pay the intern for the entire time they are on call?

No? (not required to be at FH https://www.dol.gov/agencies/whd/fact-sheets/22-flsa-hours-worked) (& not considered an employee https://www.dol.gov/agencies/whd/fact-sheets/71-flsa-internships) (p.154)

The public Accommodations aspect of the ADA (Americans with Disabilities Act) has less strict standards for buildings built when?

buildings not occupied until after January 1993 (p.54)

OSHA's Bloodborne Pathogen Standard requires employers to describe tasks that employees may come into contact with blood or contaminated objects. What is the procedure called?

Exposure control plan

SDS

Safety Data Sheet. It includes information such as the properties of each chemical; health hazards; protective measures; and safety precautions for handling, storing, and transporting the chemical.

A funeral home requires that if they have a service at the FH they must buy a casket from the FH. What type of arrangement is this?

?? Illegal (You cannot require consumers to buy unwanted or unneeded goods and services to get the items that they do want. Consumers must be able to choose only the goods and services that they want, with certain limited exceptions.)

A legal document that modifies an existing will is called a

codicil (p.91)

Words that have more than one dictionary meaning are known as

equivocal?

A speech given off the top of one's head without any preparation is known as a / an

impromptu speech

The highness or lowness of one's voice is defined as

pitch

Although many non-verbal behaviors are universal, their use and significance

vary greatly across cultures, situations, and individuals, influencing how we interpret and respond to them (?)

Under what area of management would a manager maintain proper personnel records?

Human Resources

What is the primary objective for funeral service management?

To meet the death-related needs of those grieving families

What type of learning comes from the cultural environment?

Indirect learning

From largest to smallest, what is the correct order in a cemetery?

Grave Lot Section, Block

Section, Block, Lot, Grave.

This can provide a comfortable and stable place for a family member to rest, regroup, and divert the attention away being surrounded by caskets in the selection room

Furniture grouping

Susan is mad at her son for getting killed in a car accident, but she vents her anger towards the Funeral Director. Which ego defense mechanism is this an example?

Displacement

A stage,condition, or event produced when we lose something or someone of value best describes the term

Bereavement

Mourning

Outward expression of grief

Grief

an emotion or set of emotions due to loss

Bereavement

the act or event of separation or loss that results in the experience of grief