Higher BM - Finance

Higher BM - Finance

4th Grade

24 Qs

quiz-placeholder

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Higher BM - Finance

Higher BM - Finance

Assessment

Quiz

Computers

4th Grade

Practice Problem

Hard

Created by

St Roch's Bus Ed

Used 3+ times

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24 questions

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1.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

The Finance Department are responsible for:

Ensuring all employees are working effectively across all areas.

Ensuring that funds are available for the organisation to achieve it's objectives.

Supporting the business to market their products and services effectively.

Generating financial information for support decision making.

Monitoring the levels of service that the organisation is delivering.

2.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

The finance department will complete various functions, such as:

Creating job adverts for new vacancies in the organisation.

Prepare budgets for departments to use.

Dismiss staff if they do not stick to agreed budgets.

Pay the salaries and wages of the employees.

Work with the managers to increase the reputation of the business.

3.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

The source of finance that a business will use depends upon:

The size of the business

The sector they operate in

How much money the competitors have

The weather

The town they operate in

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Retained Profits is an example of:

Internal Finance

External Finance

Unsensible Finance

Long-Term Finance

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The quickest source of finance available to a business is:

Retained Profits

Mortgage

Bank Loan

Sale of Assets

6.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Short-term finance includes:

Bank Overdraft

Trade Credit

Debt Factoring

Mortgage

Bank Load

7.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

A bank loan can be a useful source of finance, because:

It allows the business to plan better

It is paid back with interest

The payments are usually a fixed amount

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