Pulse Legacy Archive November 2012 | Page 40

ISPA Pulse Interactive Quiz How Smart Are You When It Comes to Spa Financial Management? est your own, or your staff’s, knowledge on spa financial management. Go to digital Pulse on experienceispa.com to take Pulse’s interactive quiz and share this online tes t with your entire spa team. Questions from this interactive quiz are based on competencies covered in ISPA’s Financial Management for Spas, a valuable and comprehensive resource for spa professionals T Cash, accounts receivable, prepaid expenses, and inventory are all examples of spa: assets. liabilities. owners’ equity. debits and credits. Accounts payable, notes payable, withheld taxes, and deferred income are all examples of spa: assets. liabilities. owners’ equity. debits and credits. What is the basic accounting equation? Liabilities = Assets + Owners’ Equity Owners’ Equity = Liabilities + Assets Assets = Liabilities + Owners’ Equity Liabilities = Owners’ Equity ÷ Assets Take the test on digital Pulse to find out the answers! 38 PULSE ■ November 2012