Vocabulary
Is a general increase in prices and fall in the purchasing value of money.
Inflation
What is a letter of credit
A payment guarantee
Which entity is responsible for collecting taxes in Mexico?
SAT
What is the term used for the cost associated with borrowing funds or the price paid for using capital?
Interest
How many bones does the human body have?
206 bones
What is the term for a company's financial gain after deducting expenses?
Profit
Is a shipping document
A bill of lading
What is the term for the shortfall that occurs when a company´s revenue is lower than its expenses in a specific period?
Revenue deficit
What is the term for money borrowed from a bank that must be paid back with interest?
Loan
Largest country in the world.
Russia
In the following sentence which part of the speech is the word “accountant”. The accountant carefully analyzes the financial statements to ensure accuracy.
Noun
Agreements that facilitate trades
Trade blocks
What are contributions in the context of taxes?
Mandatory payments individuals and businesses make to the government to fund public services
Which financial statement shows a company’s revenues and expenses?
Income statement
Who wrote the play “Romeo and Juliet”?
William Shakespeare
Balance sheet, Income statements, cash flow statements are examples of :
Financial statements
What are incoterms ?
Trade rules
Who are the tax authorities in Mexico?
The Tax Administration Service (SAT) and the Ministry of Finance and Public Credit (SHCP)
Which entity is responsible for overseeing and regulating investment funds and financial instruments?
The National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores, CNBV)
Year when World War II began.
1939
Which of the following is NOT an asset? (A) Cash, (B) Accounts Payable, (C) Transportation Equipment, (D) Inventory
(B) Accounts Payable
What roll do tariffs (aranceles) play in internacional trade?
Protect local industries
In Mexico, what is the tax on personal and business earnings called? (A) Value-added tax (IVA), (B) Income tax (ISR), (C) Excise tax (IEPS), (D) Property tax (Predial
B) Income tax (ISR)
Which of the following is NOT a type of financing used by businesses? (A) Bank loans, (B) Leasing, (C) Equity financing, (D) Factoring, (E) Marketing strategies
(E) Marketing strategies
Third planet in the solar system
Earth