🏫 Mercy University Trivia
What is Mercy University's mascot?
The Mavericks
What does CPA stand for?
Certified Public Accountant
What does NABA stand for?
National Association of Black Accountants
What is the world's largest ocean?
The Pacific Ocean
What is the term for money borrowed that must be paid back?
Debt or a loan.
In what year did Mercy College officially become Mercy University?
2023
What is the term for money a business earns from selling goods or services?
Revenue
In what city was NABA founded?
New York City
What planet is known as the Red Planet?
Mars.
What does ROI stand for?
Return on Investment.
Name all three Mercy University campus locations
Dobbs Ferry, Manhattan and the Bronx.
What is the accounting equation?
Assets = Liabilities + Equity.
What year was NABA founded?
1969
What is the only continent located in all four hemispheres?
Africa
What is the term for a general increase in prices over time?
Inflation
In what year was Mercy founded?
1950
What financial statement shows a company's assets, liabilities and equity at a specific date?
Balance sheet.
How many founding members formed NABA?
Nine.
What is the smallest country in the world by land area?
Vatican City
A store sells a jacket for $80 and offers a 25% discount. What is the final price before tax?
Answer: $60
25% of $80 = $20. $80- 20= 60
Final price = $60.
Which building on Mercy University's Dobbs Ferry campus is named after the Italian explorer known for exploring New York Harbor in 1524?
Verrazzano Hall.
A company has $150,000 in assets and $90,000 in liabilities. During the year, the company earns $30,000 in revenue and incurs $12,000 in expenses. Assuming no other changes, what is its ending equity?
$78,000.
Explanation: Beginning equity = $150,000 − $90,000 = $60,000.
Net income = $30,000 − $12,000 = $18,000.
Ending equity = $78,000.
What is NABA's traditional motto?
Lifting as We Climb.
Which country has the most time zones in the world, including its overseas territories?
France (12 standard time zones)
A business spends $200 on supplies and makes $350 in sales. It then uses $50 of its profit to buy additional supplies. How much profit remains?
$100.