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FINAL EXAM FLASH CARDS

FINAL EXAM FLASH CARDS

Assessment

Presentation

Business

10th - 11th Grade

Medium

Created by

Rose Davis

Used 4+ times

FREE Resource

16 Slides • 10 Questions

1

FINAL EXAM FLASH CARDS

Use the flash cards to review for the final exam.

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2

Multiple Choice

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A long-term goal:

1

is a goal that takes 5 or more years.

2

takes one year or less.

3

takes 2 to 5 years to achieve.

4

happens indefinitely.

3

Multiple Choice

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Something you must have to survive, such as food, shelter and clothing is:

1

A value

2

A want

3

A need

4

Planning

4

Multiple Select

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A service is performed by a person or a machine performs for you. Such as:

1

A mechanic

2

A hair stylist

3

An attorney

4

A fast food worker

5

Goods are physical items that can be produced and can be weighed or measured.

6

Multiple Select

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Consumable goods are purchases that you make often

and use up quickly. Such as:

1

Shampoo

2

Food

3

Toothpaste

4

Soap

7

Money Management is planning how to get the most from your money.

8

Net Worth = Total Assets-Total Liabilities

9

Multiple Select

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National Brands are well-known brand names that are widely advertised and available in many stores. Such as:

1

Kellogg's

2

Nabisco

3

Hershey's

4

Nestle

10

Store brands are also known as generic brands.

11

Multiple Select

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Assets are any items of value that can be converted into cash. Such as:

1

cash

2

a car

3

a house

4

investments

12

A liquid asset can be readily converted into cash with little impact on the value.

13

A balance sheet is also called a net worth statement.

14

Multiple Select

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Liabilities are debts that are owed. Such as:

1

A bill

2

A loan

3

Taxes

4

A credit card

15

Current Liabilities are short-term debts that have to be paid within one year.

16

Fixed expenses are those expenses that are more or less the same each month

17

Multiple Select

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Variable expenses are those expenses that can change from month to month. Such as:

1

a grocery bill

2

a water bill

3

an electric bill

4

a gas bill

18

Net cash flow is the money that actually goes into and out of your wallet and bank accounts.



Net Cash Flow = Income - Expenses

19

Unit Price, or unit cost, tells you the cost per liter, per kilogram, per pound, etc., of what you want to buy.




To find the unit price use the formula: cost ÷ quantity.

20

A guarantee is usually free.

It's a promise to sort out any defects with a product or service within a fixed period of time. 


A warranty is like an insurance policy that you must pay a premium for.

It is sometimes it's called an 'extended guarantee.' 

21

Rebates

Is a partial refund of the price of the product.

22

Deposit

Refers to money going into a bank account.

23

Multiple Select

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At a bank you can:

1

Open a checking and savings account.

2

Withdraw money from an ATM.

3

Apply for a loan.

4

Receive your balance.

24

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Review the image for the parts of a savings deposit slip.

25

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Review the image for the parts of a check.

26

Multiple Select

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At an ATM you can:

1

transfer money

2

make deposits.

3

check your account balance.

4

make withdrawals.

FINAL EXAM FLASH CARDS

Use the flash cards to review for the final exam.

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