
Intro to Business Concepts
Flashcard
•
Business
•
9th Grade
•
Hard
Wayground Content
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70 questions
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1.
FLASHCARD QUESTION
Front
What is the role of the Federal Reserve System?
Back
To conduct monetary policy and regulate banks
2.
FLASHCARD QUESTION
Front
How can you develop, evaluate, and modify a spending/savings plan?
Back
By regularly reviewing financial goals and adjusting expenses
3.
FLASHCARD QUESTION
Front
What is the purpose of a budget?
Back
To plan for future savings and expenses
4.
FLASHCARD QUESTION
Front
Which of the following best describes the differences between banks, credit unions, and other financial institutions?
Back
Banks are for-profit institutions, credit unions are not-for-profit and serve members, and other financial institutions vary in services and regulations.
5.
FLASHCARD QUESTION
Front
Fixed expenses are costs that do not change from month to month, whereas variable expenses are costs that can vary depending on use and other factors. True or False?
Back
True
6.
FLASHCARD QUESTION
Front
Which of the following is a step in preparing and interpreting financial statements?
Options:
Analyzing business transactions,
Preparing trial balance,
Generating income statement,
All of the above
Back
All of the above
7.
FLASHCARD QUESTION
Front
How can you evaluate savings and investment options?
Back
By comparing their interest rates and risks
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