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MEC Key Financial Concepts 1

Authored by Aimee LeDoux

Life Skills

10th - 12th Grade

Used 30+ times

MEC Key Financial Concepts 1
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20 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Money owed by a company to a supplier.

account receivable

account payable

breakeven anaylysis

cost of goods sold

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Costs that make up one unit of what you sell.

cost of goods sold

Capital

bond

account receivable

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Individuals who make small investments and do not expect an immediate or large return. (usually friends or family)

angel investors

crowdfunding

credit-worthy

shareholder

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Funds contributed by investors to a business. And expect to get a significant return on their investment when the company succeeds.

crowdfunding

credit

angel investors

equity/capital

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Funds lent to a business with an agreement that the business will repay the lender with interest.

credit

default

capital/equity

extended payment terms

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Failure to repay a loan

debt

deductible

default

covered loss

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A loss that an insurance company will reimburse a policyholder for in the event of a claim.

deductible

covered loss

extended payment terms

contribution margin

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