Ted projected that his business revenue for the next
quarter should be around $9,000. This is an example
of what kind of financial planning?
A. Expansion
B. Personal
C. Operation
D. Start-up
C.Operation
100
Amana Appliance Company determined its
affordability to start selling self-cleaning stoves. This
is an example of what kind of financial planning?
A. Expansion
B. Personal
C. Operation
D. Start-up
A. Expansion
100
Paul reviewed his company's budget for six months
and determined that it is spending less on utilities.
Which type of budget was used?
A. Cash
B. Expansion
C. Operating
D. Start-up
C. Operating
100
Direct Finance Company's primary function is to use
its own money instead of customers' savings to
provide loans to other businesses. This is an
example of which type of financial institution?
A. Depository
B. Check-cashing outlet
C. Non-depository
D. Pawnshop
C. Non-depository
100
. Southern Life Insurance Company makes money on
selling specific services such as policies instead of
retaining their customers money. This is an example
of which type of financial institution?
A. Depository
B. Check-cashing outlet
C. Non-depository
D. Pawn shop
C. Non-depository
200
4. Paul projected that his business expenses for the
next twelve months should be around $30,000. This is
an example of what kind of financial planning?
A. Expansion
B. Personal
C. Operation
D. Start-up
C. Operation
200
Carl estimated that his business could invest an
additional $40,000. Which type of budget was used?
A. Cash
B. Expansion
C. Operating
D. Start-up
A. Cash
200
Tonya compared revenue of $30,000 to expenses of
$22,000 to determine whether her business
experienced a net income or loss. Which type of
financial statement was used?
A. Balance sheet
B. Budget
C. Income statement
D. Statement of owner's equity
C. Income statement
200
Last month's revenue for Tisha's Tire Company was
$700 and it paid $650 for expenses. Which is the net
income/net loss amount for the business?
A. $50 net income
B. $50 net loss
C. $500 net income
D. $500 net loss
A. $50 net income
200
An investor prefers a financial institution that offers
access to local branches and ATM machines near
her home and job. Which characteristic(s) of
financial institutions the investor prefers?
A. Convenience
B. Fees and charges
C. Restrictions
D. Safety
A. Convenience
300
Kate projected that her business revenue for the
next quarter should be around $7,000. This is an
example of what kind of financial planning?
A. Expansion
B. Personal
C. Operation
D. Start-up
C. Operation
300
Mary reviewed her company's budget for one year
and determined that it is continuously spending more
on utilities. Which type of budget was used?
A. Cash
B. Expansion
C. Operating
D. Start-up
C. Operating
300
Jack reviewed his company's budget for six months
and determined that it is spending more on credit
card purchases. Which type of budget was used?
A. Cash
B. Expansion
C. Operating
D. Start-up
C. Operating
300
Jennifer prefers a financial institution that will meet
her business needs such as access to checking
options, credit cards, and loans. Which characteristic
(s) of financial institutions does she prefer?
A. Fees and charges
B. Restrictions
C. Services
D. Safety
C. Services
300
Sarah purchased school supplies with a store gift
card of $300. This is an example of which type of
payment service?
A. Cashier's check
B. Certified check
C. Electronic
D. Money order
C. Electronic
400
Ford Motor Company determined it can afford to
start selling vehicles that imitate a family room on
wheels. This is an example of what kind of financial
planning?
A. Expansion
B. Personal
C. Operation
D. Start-up
A. Expansion
400
Alicia should use which type of budget to analyze the
business performance of her floral company?
A. Cash
B. Expense
C. Operating
D. Start-up
C. Operating
400
Harry's Grocery Store revenue for last year was
$98,000 and it paid $103,000 for expenses. Which is
the net income/net loss amount for the store?
A. $5,000 net income
B. $5,000 net loss
C. $9,000 net income
D. $9,000 net loss
B. $5,000 net loss
400
Which financial ratio will John use if he wants to
determine whether his business could pay its debts
due this month?
A. Current
B. Debt to equity
C. Net income
D. Return on equity
A. Current
400
Which is the FIRST step in opening a checking
account?
A. Completing a signature card
B. Completing a bank reconciliation
C. Ordering a set of checks
D. Receiving the first cancelled check
A. Completing a signature card
500
Tonya projected that her business expenses for the
next six months should be around $2,500. This is an
example of what kind of financial planning?
A. Expansion
B. Personal
C. Operation
D. Start-up
C. Operation
500
Jill can find the value of assets and liabilities for her
business at the end of the year on which type of
financial statement?
A. Balance sheet
B. Budget
C. Income statement
D. Cash flow statement
A. Balance sheet
500
. Last year's revenue for Zoe's Company was $95,000
and it paid $83,000 for expenses. Which is the net
income/net loss amount for the business?
A. $5,000 net income
B. $5,000 net loss
C. $12,000 net income
D. $19,000 net loss
C. $12,000 net income
500
An investor prefers a financial institution that offers
safe deposit boxes, trusts, and loans. Which
characteristic(s) of financial institutions the
investor prefers?
A. Fees and charges
B. Restrictions
C. Services
D. Safety
C. Services
500
Todd gave Intrek Computer Services a personal
check for which his bank guaranteed payment. This
is an example of which type of payment service?
A. Certified check
B. Electronic
C. Money order
D. Traveler's check