Finance Test

What is finance? 

• the study of how money is managed. 
• the movement of cash and bank balances over a period. 
• the amount of money available to be borrowed by a person

What is credit? 

• the amount of money available to be borrowed by an individual or a company but must be paid back. 
• the study of how money is managed
• garenteeing money back 

An income statement is also know as the profit and loss statement. 

• false 
• true 

Cash flow statement presents the ___________ in cash and bank over a period of time. 

• money 
• movement 
• expansion 

With short term finance, everything should be paid back within 

• 2 years 
• 10 years 
• 1 year 

what are one of the three goals or benefits of all finance solutions 

• gain assets 
• achieve low cost  
• expand your business 

You must pay a minimum amount in this type of credit. Ex: credit card

• revolving
• secured
• installment
• unsecured

You repay money throught out a series of fixed payment in this type of credit. Ex:car loans.

• Revolving
• installment
• secured
• unsecured

opposite of secured loans, include things like credit cards, personal loans, student loans, and home improvement loans.

• unsecured
• secured
• installment
• revolving

what is it when there is a boat loan and the bank can take it if you do not pay?

• collateral
• collecter