Financial things
FOR 200 POINTS
What is the Bank of Canada and what do they do? and name 3 advantages of online banking
What is the Bank of Canada and what do they do?
Canada’s central bank, a Crown corporation responsible for
Managing monetary policy
Controlling inflation
Influencing interest rates
Issuing bank notes
Maintaining a stable financial system
What are the advantages of Online Banking?
Available 24/7
Fast and convenient transactions
Easy access to account information
Tools for budgeting and financial planning
Reduces the need to visit a physical branch.
What is owners equity
The value remaining after all liabilities have been paid
What are 2 risks for an inventor if they enter entrepreneurship?
Financial loss, risk of being copied, No guaranteed income, High start-up costs.
Why do companies organize workers into teams?
atleast 3 REASONS
To increase productivity, complete tasks faster, improve problem-solving and encourage collaboration, creativity and boost employee motivation.
What effect does inflation have on money?
reduces purchasing power
What is atleast TWO Key Questions a consumer should ask when to use credit:
Do I really need to purchase this or can it wait?
Can I afford payments, including interest?
How much interest will I pay?
What is the total interest rate and total cost of borrowing?
What does Net Worth mean
Net worth is the value of everything you own minus what you owe.
What influences buying stuff?
name atleast 3 reasons
Income and Price, Status, Current Trends, Customs and Habits, Promotions. Cost, need, Want
What are the possible changes a company might make to increase profits name the 3
Lowering costs, Improving customer service, using effective advertising.
What advice can you give if someone had a negative or positive net worth?
If they have a negative net worth then they should evaluate the budget. If it is a positive net worth they should optimize tax savings.
Name 3 advantages of using credit?
Instant enjoyment, convenience, Help in an emergency, saving money, credit rating, monthly statement.
What does solvent mean?
A business is solvent when it can pay its debts and meet long-term financial obligations.
What are innovations and the differences from inventions?
Innovation is improving on a product while inventions are creating a hole new product
How do you calculate the interest paid on a term bank loan?
Interest = Principal (P) × Rate (r) × Time (n)
Name 3 factors that you should you consider when selecting where to shop?
Price, Quality of goods and services, Convenience and location, Reputation and return/warranty policies.
Can you explain the Canada Credit system and how it's built on trust?
lets people borrow money and pay it back later.
It is built on trust, meaning lenders trust borrowers to repay their debt.
This trust is based on a person’s credit history and credit score, which show how responsibly they pay back money.
Why are assets listed in the form of liquidity?
to show how quickly they can be converted into cash
What are the pros and cons of employee turnover?
200P FOR PROS (2 PROS)
100P FOR CONS (2 CONS)
PROS: New ideas and skills, Opportunity to improve staff quality
CONS: High training costs, loss of experience, lower productivity.
Are all ventures innovative? then describe why
No. A venture is any business that aims to make a profit, but only some ventures are innovative because many use existing products, services, and methods.
What should you show investors to impress them?
each thing= 200p
A clear business plan/pitch, financial statements, growth potential and evidence of demand.
How is Common stock different from preferred stock?
How is Common stock different from preferred stock?
Common Stock:
Owners usually get voting rights in the company
Dividends are not guaranteed and can change
Higher risk, but more potential for growth
Paid last if the company goes bankrupt
Preferred Stock:
Usually no voting rights
Dividends are fixed and paid first
Lower Risk, but less/limited growth potential
Paid before common shareholders if the company goes bankrupt.
Can you be Profitable and not be solvent?
Yes. A business may earn profit but lack enough liquid assets to pay short-term debts.
THIS IS DOUBLE JEPOARDY FOR 1000 POINTS TELL ME THE 4 FUNCTIONS OF MANAGMENT
Planning, Organizing, controlling and leading
THIS IS TRIPLE JEPOARDY FOR 1500 POINTS... PLEASE TELL ME..
The main diffrence between liscening agremeent and franchise agreement
Liscene agreement= 1 short time thing
franchise agreement= for a long period of time
wHAT ARE SOME OPERATING EXPENSES FOR A BUISNESS?
100P PER EACH
Rent, utilities, salaries, marketing, insurance,office supplies